Brent crude futures fell by 1.17%, to $63.50 per barrel by 08h41 CAT. United States (US) West Texas Intermediate (WTI) crude futures dropped 1.31%, to $59.63 a barrel.

Brent and WTI have lost 15% and 17% respectively so far this month, the biggest percentage drop since November 2021.

Both benchmarks slumped after US President Donald Trump's April 2 announcement of tariffs on all US imports. They then sank further to four-year lows as China responded with its own levies against US imports, stoking a trade war between the top two oil-consuming nations.

--Reuters--