World oil prices dropped this evening as investors worried over the strength of worldwide energy demand following weak Chinese economic data.
US crude shed $1.06 to $106.34 a barrel. In London, Brent North Sea crude was down 65 cents at $125.33.
Concerns over China's energy demand were stoked after customs data released on Saturday showed the economy swung to a trade deficit of $31.48 billion in February.
The deficit - the largest for at least 12 years - comes as demand continues to falter in China's key US and European export markets.
China's weak figures outweighed data showing that its monthly crude oil imports reached a record monthly high in February. It imported 23.64 million tonnes of crude oil last month, equivalent to 5.98 million barrels a day.
China is the world's biggest energy consumer, while the United States is the largest consumer of crude oil.
Oil prices also sank as investors opted to cash in their recent gains and took their cue from the firmer US dollar, which makes raw materials such as oil more expensive for buyers holding weaker currencies.
