Oil ends sharply lower, down 6.1%, on China demand worries, Wall Street selloff

Oil futures fell sharply Monday, retreating as weak trade data out of China underlined worries over crude demand amid COVID-19 lockdowns, analysts said. A sharp fall for equities was also seen adding to the downdraft. West Texas Intermediate crude for June delivery dropped $6.68, or 6.1%, to end at $103.09 a barrel on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.