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Oil futures close at their lowest since January

Oil futures fell Monday for a second session in a row, holding ground at their lowest prices since January. “Global macro risks and energy policy risk across Europe continues to support the U.S. dollar, making oil even more expensive in European markets already struggling with inflation and leading to further deterioration in oil demand outlooks,” said Troy Vincent, senior market analyst at DTN. November WTI crude fell $2.03, or 2.6%, to settle at $76.71 barrel on the New York Mercantile Exchange, the lowest front-month contract finish since Jan. 3, FactSet data show.

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