Singapore, October 31 (QNA) – Oil prices dropped on Monday after being overshadowed by concerns that the expansion of COVID-19 restrictions in China would reduce demand for fuel.
Brent crude futures fell 36 cents, or 0.4 percent, to USD 95.41 a barrel, after falling 1.2 percent on Friday.
US West Texas Intermediate crude price fell 23 cents, or 0.3 percent, to USD 87.67 a barrel, after falling 1.3 percent at the close on Friday.
West Texas Intermediate crude is still supported by indications from major American producers that the productivity of the Permian field, the largest shale oil field in the United States, is slowing. (QNA)