Oil Slips Nearly 1%

Oil prices slipped nearly 1% on Monday after Iraq’s Kurdistan region resumed crude oil exports, and as OPEC+ plans another oil output hike in November.

Brent crude futures fell 63 cents, or 0.90%, to $69.50 a barrel, after settling at their highest level since July 31 on Friday. U.S. West Texas Intermediate (WTI) crude was trading at $65.07 a barrel, down 65 cents, or 0.99%, giving back most of Friday’s gains.

Both Brent and WTI rose more than 4% last week, marking their biggest weekly gains since June.