Oil Prices Fall to 12-Day Low

Oil prices dropped to a 12-day low on Monday with Brent and West Texas Intermediate (WTI) futures falling below $100 per barrel during trading to reach their lowest levels since September 9.

Brent crude futures for November delivery fell $3.48, or 3.35 percent, to $100.39 a barrel. US WTI crude futures for October delivery dropped $4.64, or 4.63 percent, to $95.66 a barrel, while the November contract settled at $92.34.

The sell-off came as traders assessed market supply prospects and broader economic conditions, keeping crude prices under pressure during Monday’s session.