Oil prices fell on Monday as weak economic data from China and a broader market downturn signalled a tough outlook for demand.
Brent crude for April delivery was $70.25, down 0.2% after consumer inflation in the People's Republic turned negative for the first time in over a year, reinforcing concerns about weak demand from the world’s biggest oil importer.
In the US, President Trump described the economy as being in a "period of transition" following his tariff moves, while Federal Reserve chair Jerome Powell warned of growing uncertainty but saw no need to rush interest rate cuts.
Brent is down 14% from its peak in mid-January.