Oil Prices Fall Below $70

Baghdad Oil prices fell today, Monday, to continue their sharp losses last week, against the backdrop of the rise in the US dollar and fears that the new epidemic restrictions in Asia, especially China, may lead to a setback to the global recovery in fuel demand.

Brent crude futures fell $1.30, or 1.84%, to $69.40 a barrel, after falling 6% last week, in their biggest weekly loss in four months.

US West Texas Intermediate crude futures fell $1.32, or 1.9%, to $66.96 a barrel, after falling nearly 7% last week in their steepest weekly decline in nine months.

Source: National Iraqi News Agency