Oil prices fell on Monday on renewed caution over the prospects of a trade deal between the United States and China, with investors shrugging off comments over the weekend by US President Donald Trump that talks were going well.

Brent crude was down 39 cents, or 0.6per cent , at $62.12 by 0117 GMT. The contract rose 1.3per cent last week.

US crude was 35 cents, or 0.6per cent , lower at $56.89 a barrel, having risen 1.9per cent last week.................BL