Brent Crude Drops 3%, Nears $100 in Commodities Rout

Reuters reported that Brent crude oil has further declined almost 3% and has inched closer to $100/barrel on Monday, extending a 2-week selloff that has cut almost 10% off prices.

As quoted in the market news:

The Brent contract for May delivery, which expired on Monday, traded as low as $100.02 a barrel in early U.S. activity before settling down $2.72 at $100.39 a barrel.

Meanwhile, the contract for June delivery fell below $100 a barrel for the first time since July, extending its sell-off in post settlement trading to as low as $99.12 a barrel.

Click here to read the full Reuters report.