OIL PRICE: NEAR $58
REUTERS - Oil prices fell by 1% on Tuesday, weighed down by the protracted U.S.-China trade dispute that has dragged on the global economy as well as rising OPEC and Russian oil output.
U.S. crude CLc1 was down 65 cents, or 1.19%, at $54.45 a barrel by 0857 GMT, while Brent LCOc1 was down 47 cents at $58.19 a barrel.
The United States this week imposed 15% tariffs on a variety of Chinese goods and China began to impose new duties on a $75 billion target list, deepening the trade war that has rumbled on for more than a year.
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