On Monday, as supply worries subsided and worries about China’s gasoline demand and rising interest rates weighed on prices, oil prices remained close to two-month lows. After finishing at their lowest price since September 27, January Brent crude futures had fallen 28 cents, or 0.3%, to $87.34 a barrel by 01:03 GMT.
Before the contract’s expiration later on Monday, December West Texas Intermediate (WTI) crude futures were trading at $80 a barrel, down 8 cents from the previous day. To reach $79.90 per barrel, the more active January contract decreased by 21 cents. As losses continued throughout the next week, both benchmarks, Brent down 9% and WTI down 10%, closed on Friday at their lowest levels since September 27.Share This