Oil extended losses to settle at 9-month lows

International benchmarks for crude oil shed another $2/barrel on Monday, 27 September 2022 to settle at the lowest levels in nine months on the back of the strengthening US dollar. Fear of an economic slowdown that could dilute oil demand encouraged traders to sell off.

Brent fell $2.09 or 2.4% to close at $84.06/barrel. 

WTI dropped by $2.06 or 2.3% to close at $76.71/barrel.