Oil slips

Singapore : Oil prices dipped on concerns that the trade war between the United States and China could intensify, although looming U.S. sanctions against Iran´s oil exports and falling Venezuelan output prevented bigger falls.

International Brent crude oil futures were at $77.64 per barrel at 0654 GMT, down 13 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures were unchanged at $70.25 a barrel.

Analysts cautioned that trade disputes between the United States and other major economies, especially China and the European Union, could start to drag on economic growth and, by extension, fuel demand.

"You have to wonder if it (crude) can sustain these prices in a world where President Trump doubles down on his battle with the EU and China at the same time," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.