U.S. crude oil prices are on pace for a third monthly loss in a row in September as rising supplies from OPEC+ and weak demand in China haunt the market.
The U.S. benchmark has declined more than 7% for the month, while global benchmark Brent has fallen about 9%.
"Oil markets are experiencing a panic attack," Amarpreet Singh, energy analyst at Barclays, told clients in a Friday note.
Here are Monday's energy prices:Oil prices remain under pressure in part because OPEC+ plans to begin increasing production in December, and as demand in China, the world's largest crude importer, remains soft.
The Netanyahu government is pummeling the Iran-backed militia group, with concerns growing that Israel might launch a ground operation in Lebanon.
Persons:
Amarpreet Singh, Brent, Israel, Hassan Nasrallah, Netanyahu, Daan Struyven, Goldman Sachs
Organizations:
Brent, Barclays
Locations:
China, U.S, OPEC, Beirut, Iran, Israel, Lebanon, Libya, Saudi Arabia