LONDON—Oil prices fell on Monday to their lowest in 15 months on concern that risks in the global banking sector and a potential increase to U.S. interest rates could spark a recession that would sap fuel demand.
In volatile trading, Brent crude futures for May fell $2.07, or 2.8 percent, to $70.90 a barrel at 0950 GMT. The U.S. West Texas Intermediate crude contract for April was down $1.88, or 2.8 percent, at $64.86 before its expiry on Tuesday.
