Oil prices fell $2 per barrel on Monday, settling at nine-month lows primarily due to a strong U.S. dollar. U.S. West Texas Intermediate (WTI) crude for November delivery dropped by $2.06 per barrel (-2.3%) to settle at $76.71 per barrel its lowest since January 6th. Meanwhile, Brent crude futures for November settled down $2.09 per barrel (-2.4%) to US$84.06 per barrel. On the supply side ahead of Hurricane Ian expected to make landfall somewhere in Florida some producers in the Gulf are evacuating and shutting in platforms in the Gulf including BP and Chevron as a preemptive safety measure.
