Concerns about a renewed global recession led a sell-off across commodities markets today.
Brent crude fell by $2.16 to stand at $101.81 a barrel and US crude dropped 2.2¢ to $78.05, reports Reuters.
Oil extended losses after falling to six-week lows last week, raising worries of weaker demand.
The fall in US crude was also contributed to a 0.4% rise in the dollar against a basket of major currencies.
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