U.S. oil prices trade more than 7% lower as traders say China-U.S. relations a source of tension for crude

U.S. oil prices head lower early Monday, with persistent worries about a flare up in tensions between China and the U.S. over the former’s handling of the outbreak of the novel strain of coronavirus seen as one catalyst for a downbeat mood in an asset that has already been dogged by fears of oversupply.