TSX futures are down as oil prices slip ahead of the morning bell.

The decline in crude is being stoked by an OPEC meeting planned for later this week in which a production boost from the organization is expected.

Simmering trade tensions between the world’s two biggest economies, the United States and China, are also affecting oil prices.

On Wall Street those tensions are playing their part as well as futures are weaker after both China and the United States announced billions of dollars in tariffs against one another on Friday.

Ahead of the North American markets opening this morning oil is down 35 cents to $64.71 U.S. per barrel, gold is up $5.10 to $1283.60, and the loonie is up a quarter of a cent to 75.93 cents U.S.