Oil Down as Economic Headwinds Weigh on Demand Outlook

Oil Down as Economic Headwinds Weigh on Demand Outlook
The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, on March 1, 2021. Christian Hartmann/Reuters
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NEW DELHI—Oil prices lost more ground on Monday as economic headwinds pressured the global oil demand outlook and offset geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend.

Brent crude fell 23 cents, or 0.3 percent, to $78.33 a barrel by 0732 GMT after settling down 54 cents on Friday.