President Trump also mentioned that reports about the USA being willing to lift tariffs as a part of an initial agreement had been incorrect, despite the news having boosted markets.
-China deal has faded since President Donald Trump said on Friday that he had not agreed to rolling back tariffs as suggested by Beijing.
Brent crude futures lost 33 cents to settle at $62.18 a barrel, after falling to $61.57/Bbl earlier in the session, Kallanish Energy reports.
Oil prices have fallen by more than 1 per cent as concerns have arisen over the likelihood of the trade deal between China and the United States. USA equities drifted after Trump said the US hasn't agreed to a tariff rollback with China, tempering some of the optimism that a preliminary trade deal will be reached next month.
Trump mentioned on Saturday that trade talks with China have been shifting along "very properly", however, the USA would exclusively make a cope with Beijing if it was the suitable one for America.
"If anything, Trump's statements were a dose of reality", said Ashley Petersen, oil market analyst at Stratas Advisors in NY.
Trump also said there had been incorrect reporting about the U.S.'s willingness to lift tariffs as part of a "phase one" agreement, news of which had boosted markets, Reuters reported.
Memphis declares Wiseman ineligible after freshman withdraws lawsuit
After the legal action, the Tigers proudly put Wiseman at center stage in the starting lineup of a rout of Illinois-Chicago. NCAA spokeswoman Stacey Osburn declined to comment Thursday when contacted by The Associated Press about Wiseman's case.
Crosby out at least six weeks for Penguins after core muscle fix
One of the great players in National Hockey League history, Crosby 32, is no stranger to dealing with injuries. Although Crosby is out, Pittsburgh is still a much more experienced team than the young Devils team.
U.S. calls on Seoul to pay more on USA troops presence
South Korea, Esper said, "is a wealthy country and could and should pay more" for the US military deployment. He said his country was prepared to pay a "fair and reasonable" amount.
The investment bank cut its growth forecast for next year by 100,000 barrels per day (bpd) to 600,000 bpd over 2019.
Even as USA production growth slows from the breakneck pace of recent years, the world's top oil producer will still account for 85 per cent of the increase in global oil output to 2030, and for 30 per cent of the increase in gas, the agency said.
Oman, one of the outside producers working with OPEC, said on Monday that the alliance would probably extend the agreement but was unlikely to increase the size of the supply cut.
The American Petroleum Institute (API) is scheduled to release its data for the latest week at 4:30 p.m. EST (2130 GMT) on Wednesday, while the weekly report from the U.S. Energy Information Administration (EIA) is due at 11:00 a.m. EST on Thursday.
Investors remain hostage to the rapid shifts in the US-China trade negotiations, Stephen Innes, Asia Pacific market strategist at AxiTrader, said in a note.
OPEC and its allies, known as OPEC+ which have cut supply this year to prop up prices, are expected to discuss output policy at a meeting on December 5-6 in Vienna.
"A removal of the tariffs would be the quickest way to return the world to its pre-trade war economic momentum and shore up oil demand growth", said Vandana Hari, founder of Vanda Insights in Singapore.