Oil prices have tumbled to the lowest level since December last year as unrest in China hurt the outlook for energy demand, adding to stresses in an already-fragile global crude market.
Brent crude dropped $2.43, or 2.9%, to trade at $81.20 a barrel at 7.30am as street protests against strict CV19 curbs in China, the world's biggest crude importer, spooked investors.
US West Texas Intermediate (WTI) crude slid $2.16, or 2.8%, to $73.60 earlier, its lowest since December 22nd, 2021.
News agency Reuters said both benchmarks, which hit 10-month lows last week, have posted three consecutive weekly declines. Brent ended the latest week down 4.6%, while WTI fell 4.7%.
Tetsu Emori, CEO of Emori Fund Management Inc, told the agency: "Unless OPEC+ agrees on a further reduction of production quota or the United States moves to reload its strategic petroleum reserves, oil prices may be headed further down."
The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, known as OPEC+, will meet this coming Sunday.
China has stuck with President Xi Jinping's zero-CV19 policy even as much of the world has lifted most restrictions.
Hundreds of demonstrators and police clashed in Shanghai on Sunday night as protests over China's strict restrictions flared for a third day and spread to several cities in the wake of a deadly fire in the country's far west.
Grant Shapps, the business secretary, said the UK Government is watching what is happening in China with concern.
He added there was no excuse for media covering protests to be beaten by police, after the BBC said Chinese police had assaulted and detained one of its journalists in Shanghai.
"There can be absolutely no excuse whatsoever for journalists who are simply covering the protests going on, for being beaten by the police. I know that's a considerable concern," Shapps told Sky News.