Oil prices started the trading week on Monday with significant discounts.
In the morning, a barrel (around 159 liters) of the North Sea Brent cost 100.41 US dollars.
That was $2.37 less than Friday.
The price of a barrel of West Texas Intermediate (WTI) fell $2.38 to $95.88.
Crude oil prices are currently being weighed down primarily by the economic situation in China.
There, strict corona restrictions have been causing economic slowdowns for some time.
The background is the rigorous zero-Covid strategy of the political leadership.
Most recently, extensive exit restrictions in the financial metropolis of Shanghai had caused a stir.
China is one of the largest oil consumers in the world.
Despite this, the level of crude oil prices remains high.
It is true that prices have given up their sometimes sharp premiums since the start of the Russian war against Ukraine.
However, the level is still significantly higher than at the beginning of the year.
Even before the Russian attack, oil prices had risen.
Russia is one of the world's largest oil producers.