Global oil prices slipped on Monday as uncertainty loomed over ongoing trade negotiations between China and the United States.
Market analysts say investor sentiment remains cautious, with traders closely watching for any breakthrough that could impact global economic growth and energy demand.
Brent crude futures fell by 1.2%, while U.S. West Texas Intermediate (WTI) dropped 1.4% as concerns about the lack of concrete progress in the trade talks weighed on the market.
Analysts note that prolonged tensions between the world’s two largest economies could dampen global trade and fuel demand, contributing to the downward pressure on prices.
The talks, which resumed earlier this week, are aimed at resolving a longstanding tariff dispute that has disrupted markets and raised fears of a global economic slowdown.
Investors are expected to remain on edge until more definitive signals emerge from the negotiations.
