Singapore — Oil prices fell on Monday after climbing to their highest in 2019 earlier in the session as China reported car sales in January fell for a seventh month, raising concern about fuel demand in the world’s second-largest oil user. International Brent crude futures were at $66.20 a barrel at 3.53am GMT, down 5c from their last close. Brent earlier climbed to $66.78 a barrel, the highest since November 2018. US West Texas Intermediate (WTI) crude oil futures were at $55.82 a barrel, up 23c from their last close. WTI prices also rose their highest since November, at $56.13 a barrel, earlier on Monday. Traders said Brent prices slipped after China reported the weak car sales data. China’s vehicle sales last month fell by 15.8% versus the same month in 2018, an industry association said on Monday. This continued the 2018 trend, in which China recorded the first annual drop in vehicle sales on record. So-called new energy vehicle sales in January, which include electric vehicles,...
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