Oil prices extended last week’s losses on Monday on concern about slow demand in China, although lingering geopolitical risk surrounding the Middle East and Russia limited the decline.
Brent futures fell 12 cents, or 0.2%, to $81.96 a barrel as at 0723 GMT, while U.S. West Texas Intermediate (WTI) dropped 21 cents, or 0.2%, to $77.8.
Both benchmarks fell last week, with Brent down 1.8% and WTI 2.5% lower on bearish Chinese data which pointed at softer demand in world’s no. 1 crude importer. — Reuters
