Oil prices are falling on fears of weak demand

Singapore 13 -8-2019 SPA
Oil prices retreated today, extending the impact of the limited gains recorded in the previous session as expectations of a slowdown in demand in the face of hopes to support large producers of prices by reducing oil production.
By 0643 GMT, Brent crude futures were down 48 cents, or 0.8 percent, from the last settlement to $ 58.09 a barrel.
U.S. West Texas Intermediate (WTI) crude futures fell 41 cents, or 0.8 percent, from the previous settlement to $ 54.52 a barrel.