Oil markets shifted between gains and losses last week as a delay in tariffs on some Chinese commodities sent crude prices higher, but concerns about the possibility of a recession and an increase in crude stocks put pressure on markets.
Oil prices gained in Asia on Monday after a volatile week as traders digested the latest development on the Sino-US trade front.
U.S. President Donald Trump reiterated over the weekend that he is unwilling to strike a trade deal with China, implying he wants to see Beijing deal with ongoing protests in Hong Kong first.
The news came after some contradictory signals of a trade war last week. China’s finance ministry said on Thursday it must take necessary measures against recent US tariffs on $ 300 billion of Chinese imports, but the government also said it hoped to meet with Washington in half of the trade./Investing.com