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Stalling demand and escalating fears of global economic concerns due to trade war weighed down the oil prices on Monday. Prices declined by more than 1% extending 3% loss from Friday. WTI went down by 1.2%, at $52.88 per barrel. Brent crude fell by 1.3% and was traded at $61.16 a barrel. Analysts warned about oil's vulnerability and added that “geopolitical risks remain in place” due to weakening demand.