Crude Declines as U.S.-China Trade Deal Optimism Vanishes
- China wants additional talks this month before signing deal
- WTI crude futures fell by the most in two weeks on Monday
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Oil dropped the most in two weeks amid concern that the recent U.S.-China trade talks won’t lead to a deal.
Futures in New York slid 2% on Monday. Washington and Beijing made several concessions to reach a partial trade deal last week, but China said it wants to hold further talks this month to hammer out details of the “phase one” agreement touted by U.S. President Donald Trump.