Brent crude futures were down to $86.83 a barrel as of 8:00 a.m. IST after settling at their lowest level since Sept. 27.

Oil prices hovered near two-month lows on Monday as supply fears receded, while concerns over China’s fuel demand and rising interest rates weighed on prices.

Brent crude oil futures for January were down 28 cents, or 0.3 percent, at $87.34 a barrel by 01:03 GMT after settling at their lowest levels since September 27.

US West Texas Intermediate (WTI) December crude oil futures were at $80 a…

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