Oil prices fell in early Asian trade on Monday for a second straight session, weighed down by a stronger dollar after concerns of higher-for-longer interest rates resurfaced and cooled investors’ risk appetite.
Brent crude futures slid 40 cents, or 0.5%, to $84.84 a barrel, after settling down 0.6% on Friday.
US West Texas Intermediate crude futures were at $80.34 a barrel, down 39 cents, or 0.5%.
However, both benchmark crude contracts gained about 3% last week on signs of stronger oil products demand in the US, world’s largest consumer, and as OPEC+ cuts kept supply in check.
Source: Qatar News Agency