Doha: Oil prices fell 6% to two-week lows on Monday: Oil prices saw a significant decline, dropping 6% to reach their lowest levels in two weeks. Brent crude futures decreased by $5.85, or 5.7%, settling at $97.69 per barrel. In parallel, US West Texas Intermediate prices fell to $90.85 per barrel, marking a decline of $5.75, or 6%.
According to Qatar News Agency, both oil contracts reached their lowest point since May 7 earlier in the trading session. The decline in oil prices was evident from early trading on Monday, with a fall of more than 4% observed in the initial hours.