Crude oil futures were lower in mid-morning trade in Asia on Monday as US-China trade tensions came back in focus after the Chinese government published a policy paper, which media reports said, blamed the US President Trump’s administration for the collapse in talks. At 11:55 am Singapore time (0355 GMT), ICE Brent August futures were down 69 cents/b (1.11%) from Friday’s settle at $61.31/b, while the NYMEX July light sweet crude futures contract was 36 cents/b (0.67%) lower at $53.14/b. A policy paper published by the Chinese government on Sunday said that latest US tariffs on Chinese imports will not resolve the two countries’ trade issues, according to media reports. The escalating trade tensions and indications of weaker oil demand will continue to weigh on the market, analysts said. “In its White Paper on US-China […]