Oil prices drop by 3–4%

Global oil prices declined by 3–4% on Monday morning, with Brent crude briefly falling below $59 per barrel for the first time since early April.

Report informs, citing the trading data, that the price of July futures for Brent crude fell by 3.7% to $59.02 per barrel, marking the first time since April 9 that the price dropped below $59. June futures for WTI crude dropped by 4.03%, reaching $55.94 per barrel.