Brent crude futures were trading down 40 cents, or 0.7 per cent, at 60.54 dollars a barrel by 0701 GMT. They fell 1.7 per cent in the previous session on concerns about slowing global growth. U.S. West Texas Intermediate (WTI) crude futures were down 28 cents, or 0.5 per cent, at 51.65 dollars. U.S. President Donald Trump and China’s President Xi Jinping could meet at the G20 summit in Japan later this month. Putting further pressure on oil, the U.S. energy department said on Monday that shale oil output is expected to reach a record in July.

Source: The Guardian June 18, 2019 09:45 UTC