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Worries about a global economic slowdown have led to the fall of oil prices on Monday. The prices were also affected by the ongoing Sino-U.S. trade war which has also led to a cut in the growth outlook for oil demand. Brent slipped by 0.3% and was traded at $58.35 a barrel. WTI went down by 0.4% and was traded at $54.29 per barrel.