Crude prices traded in the red on Monday, dropping over 1.5% amid an ongoing market selloff on Wall Street. The Dow Jones plunged more than 800 points during the intraday trade in New York after opening sharply lower and tech-heavy Nasdaq dropped to its lowest level since September 2024 on fears of an economic slowdown after US President Donald Trump didn’t rule out a recession with US tariffs being implemented. West Texas Intermediate for March delivery dropped 1.61%, changing hands for $65.97 per barrel at 1:53 pm CET while the international benchmark Brent for settlements in the same month lost 1.54% to trade for $66 per barrel a minute later.