TOKYO - Oil prices fell on Monday on renewed caution over the prospects of a trade deal between the United States and China, with investors shrugging off comments over the weekend by U.S. President Donald Trump that talks were going well.
Trump said on Saturday that trade talks with China were moving along “very nicely,” but the United States would only make a deal with Beijing if it was the right one for America. Trump also said there had been incorrect reporting about U.S. willingness to lift tariffs as part of a “phase one” agreement, news of which had boosted markets.
Underlining the impact of the trade war, data over the weekend showed that China’s producer prices fell the most in more than three years in October, as the manufacturing sector weakened, hit by the dispute and declining demand.
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