Crude oil falls nearly 2% ahead of OPEC+ talks

NEW YORK: Oil prices fell nearly 2% on Monday after hitting their highest since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe put a brake on the rally before this week’s OPEC+ meeting.

Brent futures fell $1.33, or 1.8%, to $74.85 a barrel by 12:44 p.m. EDT (1644 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.06, or 1.4%, to $72.99.