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Oil slides on China trade slump, but crude imports remain high

Oil prices fell by almost 1 percent on Monday, with Brent crude slipping below $60 per barrel, after Chinese data showed weakening imports and exports in the world’s biggest trading nation and second-largest crude oil consumer.

International Brent crude oil futures were at $59.91 per barrel at 0403 GMT, down 57 cents, or 0.9 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 47 cents, or 0.9 percent, at $51.12 a barrel.

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