TOKYO – Oil prices fell on Monday as jitters over the prospect of the U.S. Federal Reserve raising interest rates combined with weaker Chinese manufacturing data to erase earlier gains. Brent futures for July delivery were down 55 cents, or 0.7 percent, at $79.78 a barrel at 0009 GMT, while U.S. West Texas Intermediate (WTI) crude lost 54 cents, also a 0.7- percent drop, to trade at $76.23. U.S. consumer spending was flat in March as an increase in outlays on services was offset by a decline in goods, but persistent strength in underlying inflation pressures could see the Federal Reserve raising interest rates again.

https://business.inquirer.net/398627/oil-prices-slide-on-fed-rate-hike-expectations-weaker-china-pmi

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