MELBOURNE: Oil prices fell more than 2% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand.
Brent crude futures slid by $1.52, or 2.2%, to $69.17 a barrel by 0657 GMT, after having slumped 6% last week, their biggest weekly loss in four months.
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