(Bloomberg) -- Oil held near a one-week low after U.S. President Donald Trump sounded a warning to China on trade and following a surprise cutback in American manufacturing.

Futures in New York edged up 0.1%, after falling 2.1% on Tuesday to their lowest closing level since Aug. 26. Trump tweeted that China will have a much tougher time securing a trade deal if the Asian nation waits until after the 2020 U.S. presidential election and he wins. Crude prices were also undermined by plunging gasoline futures, as Hurricane Dorian threatened the U.S. East Coast.

To contact the reporter on this story: James Thornhill in Sydney at jthornhill3@bloomberg.net

To contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Aaron Clark

©2019 Bloomberg L.P.