Oil falls

Singapore : Brent and WTI crude oil futures dipped on Monday as concerns of a looming trade dispute between the United States and China weighed on global markets.

In Asia, Shanghai crude oil futures debuted strongly in terms of volume as investors and commodity merchants bought into the world´s newest financial oil trading instrument.

Looming over oil markets, however, was the possibility of a full-blown trade war between the United States and China battered Asian shares on Monday.

The falls came after U.S. President Donald Trump last week signed a memorandum that could impose tariffs on up to $60 billion of imports from China.

This weighed on crude oil futures as well. U.S. West Texas Intermediate (WTI) crude futures were at $65.59 a barrel at 0700 GMT, down 29 cents, or 0.4 percent, from their previous close.