Oil prices fall as India’s COVID-19 surge dents demand outlook

Oil prices dropped Monday amid concerns that a surge in COVID-19 cases in India could hamper demand.

Brent crude futures dropped by more than a dollar, or 1.7 percent, to $65.00 a barrel as of 8:30 a.m. ET. U.S. West Texas Intermediate crude futures were down about a dollar, or 1.6 percent, at $61.15 a barrel. Monday’s dip comes after both benchmarks fell about 1 percent last week.