Oil prices slump 4% on jitters over Europe lockdowns, U.S. elections

Oil prices slumped more than 4% on Monday to the lowest levels since May on worries a swathe of coronavirus lockdowns across Europe will weaken fuel demand, while traders braced for turbulence during the U.S. Presidential election week. Brent crude for January was at $36.32 a barrel, down $1.62, or 4.3%, by 0018 GMT, while U.S. West Texas Intermediate fell $1.62, or 4.5%, to $34.17 a barrel. Brent earlier hit a low of $35.74 a barrel while WTI slipped to $33.64 a barrel.

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