Oil Prices Plummet Amid Mounting Selling Pressure

Oil prices have hit their lowest levels in over a week due to mounting selling pressure. In Singapore, Brent crude fell to $101.71 per barrel, down $2.16 or 2.08 percent from its previous closing price of $104.17. The decline represents a 0.91 percent drop from Friday's close.

The US West Texas Intermediate crude also saw a significant decrease, dipping to $98.15 per barrel after falling by $2.15 or 2.14 percent. This represents a 1.58 percent drop in the previous session.