Dhaka, Oct. 12 -- WTI Crude Oil prices fell sharply below $60.00 per barrel, marking a decline of over 4 per cent in its worst single-day performance since June.

This drop was influenced by dashed hopes for eased tariffs between the US and China and worsened by the ongoing US government shutdown.

US President Trump announced he would not attend a trade meeting with President Xi Jinxing and suggested imposing more tariffs on Chinese imports.

China responded by tightening export controls on rare earth materials, which requires an export license.

Trump criticized this and saw little point in further trade discussions at the upcoming Asia-Pacific Economic Cooperation summit, according to VT Markets report.

Donald Trump's tariff threats h...