U.S . Oil Slumps As China Threatens Duty On U.S. Crude Imports

U.S. oil prices slumped on Monday after China threatened duties on American crude imports in an escalating trade dispute with Washington.

U.S. West Texas Intermediate (WTI) crude futures touched their lowest level since April, falling to $63.59 per barrel before edging back to $63.83 a barrel by 0426 GMT.

That was still down $1.23, or 1.9 percent, from their last settlement.

"Crude oil prices crashed as U.S.-China trade tensions escalated last Friday," wrote Benjamin Lu of Singapore-based futures brokerage Phillip Futures.

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Suhani Verma

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