Oil prices decreased on Monday influenced by weak economic data from the US amid recession fears and a hefty rise in crude stockpiles.
International benchmark Brent crude traded at $83.92 per barrel at 9.20 a.m. local time (0620GMT), down 1.25% from the closing price of $84.98 a barrel in the previous trading session.
The American benchmark West Texas Intermediate (WTI) traded at $78.63 per barrel at the same time, a 1.47% fall after the previous session closed at $79.8 a barrel.
Oil prices retreated from their highest level in over a month after weak US data fueled recession worries.—AA
