Crude oil prices drop

Crude oil prices fell on Monday on fears that surging infections in India will drive down fuel demand in the world's third biggest oil importer and as investors adjusted positions ahead of a planned increase in OPEC+ oil output from May, Reuters reports.

Brent crude futures dropped 38 US cents, or 0.6 percent, at US$65.73 a barrel by 0507 GMT, following a 1.1 percent rise on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 31 US cents, or 0.5 percent, at US$61.83 a barrel, after rising by 1.2 percent on Friday. Both benchmark crudes fell by about 1 percent last week.