Global crude prices dropped nearly 2%, hitting more than two-week lows, amid rising concerns over new pandemic-related restrictions in China and a strengthening US dollar. Brent crude futures for October delivery fell $2.25% to $69.11 per barrel by 06:58 GMT, after having dropped 6% last week, the biggest weekly loss in four months. Meanwhile, US crude benchmark WTI declined by 2.3%, to $66.71 per barrel, following a 7% slump last week, the steepest weekly decline in nine months. The drop reportedly comes amid new restrictions introduced by China, one of the world’s major oil consumers, due to rising Covid-19 cases.
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