Dennis Van Tine/STAR MAX/IPx 2018 via AP Crude oil prices slid more than 3% on Monday on reports that Russia and Saudi Arabia have postponed their oil production meeting to Thursday, casting doubt on a potential deal. Brent crude fell 3.1% to $33.10 and West Texas Intermediate fell 3% to $27.50, after surging last week on deal hopes. On Sunday, President Donald Trump threatened to impose "very substantial tariffs" on oil imports if Saudi Arabia and Russia do not reach a deal to end their price war. Visit Business Insider's homepage for more stories. Global oil prices slid on Monday after Saudi Arabia and Russia postponed talks to cut output as the coronavirus pandemic continues to hammer demand. Brent crude fell 3.1% to $33.10 in early trading, while West Texas Intermediate fell 3% to $27.50.See the rest of the story at Business InsiderNOW WATCH: Tax Day is now July 15 — this is what it's like to do your own taxes for the very first timeSee Also:The Trump administration is reminding people they can sign up for Obamacare coverage if coronavirus cost them their jobs — even as it fights to eliminate the lawThe oil market braces for a 'tsunami' of oversupply that threatens to upend an entire industry'I will be watching carefully': Elizabeth Warren just put the Treasury Department and Federal Reserve on notice about the $500 billion corporate bailout fund