Oil Falls on China COVID-19 Curbs and Weak Factory Data

Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China, on Oct. 22, 2018. Aly Song/Reuters

LONDON—Oil prices fell by more than $1 on Monday after weaker than expected factory activity data out of China and on concerns that the country’s widening COVID-19 curbs will curtail demand.

Brent crude futures dropped $1.17, or 1.2 percent, to $94.60 a barrel by 0900 GMT, extending Friday’s 1.2 percent decline.