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Singapore, Mar 23: Oil prices fell at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US.

US benchmark West Texas Intermediate initially tumbled more than three percent but then pulled back some ground to trade 1.5 percent lower, at $22 a barrel.

Brent crude, the international benchmark, fell 4.9 percent to $25 a barrel.

Prices have fallen to multi-year lows in recent weeks as lockdowns and travel restrictions to fight the virus hit demand, and top producers Saudi Arabia and Russia engage in a price war.

The latest drop came after a trillion-dollar Senate proposal to rescue the US economy was defeated after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

The bill had proposed funding for American families, thousands of shuttered or suffering businesses and the nation's critically under-equipped hospitals.

Coronavirus deaths soared across Europe and the United States at the weekend despite heightened restrictions.

The death toll from the virus -- which has upended lives and closed businesses and schools across the planet -- surged to more than 14,300 Sunday, according to an AFP tally.

AxiCorp chief markets strategist Stephen Innes said that "total demand devastation" had set it.

"Oil markets collapsed out of the gate this morning as prices react... to stringent containment lockdown measures," he said.

Washington, May 20: Once dubbed as historic by him, US President Donald Trump on Tuesday said he now feels ‘differently’ about the trade deal he signed with China earlier this year.

He said this while once again venting out his frustration with the Beijing leadership, accusing it of letting coronavirus spread.

Till Tuesday, over 92,000 Americans have died and 1.5 million tested positive for coronavirus that has globally killed around 320,000 people.

The US and China had signed a deal in January to end their 22-month-long trade war during which the two countries slapped tit-for-tat tariff hikes on products worth nearly half a trillion USD.

Under it, Beijing agreed to increase its purchase of US goods by USD 200 billion in 2020-2021.

“I feel differently now about that deal than I did three months ago,” Trump told reporters during a Cabinet meeting at the White House.

“We will see what all happens, but it's been a very disappointing situation. A very disappointing thing happened with China because the plague flowed in and that wasn't supposed to happen and it could have been stopped," he said.

Trump said he was very excited when the trade deal with China was signed.

“But once the virus came in, once the plague, as I called it, came in, I said how did they let that happen? And how come it didn't go into other sections of China? Why did they block it from leaving Wuhan? But they didn't block it from going to the rest of the world, including the United States. Why is that? Beijing doesn't have it. Other places don't have it,” he said.

Trump did not respond to questions on retaliation against China.

Meanwhile, top American senators continued to press the administration that rules of engagement with China needs to change post-coronavirus.

“As we know, they unleashed this virus on America and the world with their classic communist cover-up, deception, continued propaganda campaign, costing now over 90,000 American lives, 35 million Americans losing their jobs so far,” Senator Martha McSally said during a Congressional hearing.

“We don’t know who patient zero is, they destroyed samples, they silenced doctors, they kicked out journalists, they impacted international travel to seed this and their reckless behaviour continues to be the root of all this,” she said.

As a result of coronavirus, the American economy has been thrown into recession; more than 36 million people have lost their job – the worst ever after last century’s great depression.

Many of the US states have now started opening up, after taking necessary precautions.

By conservative estimates, it will take several quarters for the economy to be back on track.

Trump in the last a few weeks has exuded confidence that the economy will be back on track next year.

Washington, May 6: The Chinese Army is indulging in aggressive behaviour in the South China Sea and the Chinese Communist Party has ramped up its disinformation campaign to try to shift the blame on coronavirus and burnish its image, US Defense Secretary Mark Esper said on Tuesday.

"While the Chinese Communist Party ramps up its disinformation campaign to try to shift blame and burnish its image, we continue to see aggressive behaviour by the PLA in the South China Sea, from threatening a Philippine Navy ship to sinking a Vietnamese fishing boat and intimidating other nations from engaging in offshore oil and gas development," Esper told reporters at a Pentagon news conference.

Last week, two US Navy ships conducted freedom of navigation operations in the South China Sea to send a clear message to Beijing that America will continue to protect the freedom of navigation and commerce for all nations large and small, he said.

Many countries, Esper said, have turned inward to recover from the pandemic and in the meantime, America's strategic competitors are attempting to exploit this crisis to their benefit at the expense of others.

Responding to a question, he said the Chinese have not been transparent from the beginning on the coronavirus pandemic.

"If they had been more transparent, more open, upfront in terms of giving us access, the reporting, giving us access not to the people on the ground but to the virus they had so we could understand it, we would probably be in a far different place right now. But where we are now is this," Esper said.

China needs to allow the United States in to talk to early patients, Chinese researchers and scientists, and to have access, he added.

Instead, Esper alleged that the Chinese are trying to capitalise on this by promoting their own image that somehow, China is the good guy here.

"Despite everything they did or, more importantly, failed to do, now they want to go out and say well, here's masks. We will give you masks, provide this, or provide that, we will provide you funding. Look at all the good things we are doing," he said.

"Yet, what we know is that they provide masks, they provide supplies. In many cases, it is not good. It does not do what it is supposed to do. It is broken equipment. Also, the strings attached are enormous in many cases. So, they are telling a country you can take these masks, but please, put out publicly how good China is, how great we are doing, et cetera, et cetera," Esper said.

"So there is a number of things they are doing to try and burnish their image. That is just two of them right there," he said.

The Chinese are also doing a lot of strong-arming behind the scenes, Esper said and referred to the war of words between China and Australia. He said he plans to talk to his Australian counterpart later in the day.

"All these activities are going on. It is straight from the Chinese playbook. Once again, it is just a little bit more obvious this time with what they are doing and how they are using a combination of compelling and coercion and everything else to try and shape the narrative and burnish the image of the Chinese Communist Party," Esper said.