Oil prices fell by 2% at the settlement at the end of Monday’s trading.
Brent crude futures fell $1.58, or 2%, to reach $77.46 per barrel at the settlement.
US West Texas Intermediate crude futures also fell $1.73, or 2.29 %, recording $73.83 per barrel at the settlement.
The Organization of the Petroleum Exporting Countries (OPEC) has again lowered its expectations for global demand growth for crude for the years 2024 and 2025, and China’s oil imports fell for the fifth month.
Source: National Iraqi News Agency