China's exports growth slowed to a three-month low in May as US tariffs slammed shipments, data showed, while factory gate deflation deepened to its worst in two years, heaping pressure on the world's second largest economy both at home and abroad.

The data also showed that China's crude oil imports declined in May to the lowest daily rate in four months, as state owned and independent refiners underwent widespread planned maintenance.

"Bad timing for crude oil, which was testing the top of the range and knocking on the door of a technical break above $65," said IG Market Analyst Tony Sycamore, referring to West Texas Intermediate (WTI) prices.

"That said I would expect the reaction to be less extreme than usual, given US and China trade talks later today."

Brent had advanced 4%, and WTI gained 6.2%, last week for their first weekly gain in three, as the prospect of a US-China trade deal boosted some investors' risk appetite.

--Reuters--