Oil falls as coronavirus lockdowns widen, US election uncertainties loom

Oil prices fell on Monday on worries that widening coronavirus lockdowns in Europe would weaken fuel demand and amid concerns about turbulence around this week’s US presidential election.

Brent was down 97 cents, or 2.6%, to $36.97 a barrel by 0948 GMT, and US West Texas Intermediate fell $1.04, or 2.9%, to $34.75. Both contracts fell more than $2 earlier in the session.