Baghdad: Global oil prices fell by more than a dollar per barrel at the close of trading on Monday, pressured by renewed concerns over global demand, despite Chinese data showing a rise in crude imports. Brent crude futures settled down by $1.15, or 1.63%, at $69.21 a barrel. Meanwhile, West Texas Intermediate (WTI) crude dropped $1.47, or 2.15%, to close at $66.98 a barrel.

According to National Iraqi News Agency, customs data released today indicated that China’s crude oil imports rose by 7.4% in June compared to the same period last year, reaching 12.14 million barrels per day – providing limited support to markets amid prevailing downward pressures.