Weak global macroeconomic data continued to weigh on oil prices with lingering fears of sluggish oil demand on Monday.
International benchmark Brent crude was trading at $58.72 per barrel at 0640 GMT on Monday, heading for a 0.37% loss, after it closed the previous session at $58.94 a barrel.
American benchmark West Texas Intermediate was at $52.83 a barrel at the same time for a 0.18% decline after ending Friday at $52.93 per barrel.
The market is concerned that the trade war between the U.S. and China, and now between the U.S. and Europe, could have a significant negative impact on major economies and their oil demand.
Saudi Arabia's quick output recovery is also keeping prices down/aa