oil prices were down on Monday after a sharp drop earlier in the session after strict Covid-19 restrictions hit China’s crude oil demand in September.

Brent, the benchmark for two-thirds of the world’s oil, and West Texas Intermediate, the gauge that measures U.S. crude, fell more than 2 percent in the afternoon. Brent was down 0.65 percent at $92.89 a barrel, while US crude futures were down 0.81 percent at $83.46 a barrel as of 8:05 p.m. UAE time.

China, the second largest in the world…

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