Oil fell on Monday after Saudi Arabia cut its crude prices across regions, a sign that the kingdom is seeing a decline in global demand.
The most actively traded Brent crude oil futures, the international pricing benchmark, fell 3.4% to $76.05 a barrel, while West Texas Intermediate slipped 4.1%. at $70.80. Shares of oil majors Exxon-Mobil and Chevron fell 1.8% and 2.9%, respectively.
