Oil prices plunged more than 6 percent to the lowest in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market.
U.S. crude futures and global benchmark Brent fell to the lowest since 2017 during the session, putting both benchmarks on track to lose about 40 percent in the quarter.
U.S. crude futures have hit the lowest since June 22, 2017, as jitters have grown about the impact of an escalating U.S.-China trade dispute on global growth and crude demand. Brent crude is at its lowest since Aug. 17, 2017.
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