Original title: Oil Falls Following Monthly Drop With Glut, Geopolitics In Focus
Oil declined following a monthly drop in August, with traders focused on concerns over a potential glut and geopolitical tensions. Brent fell toward $67 a barrel, while West Texas Intermediate was below $64. With Washington seeking to force India to halt imports of Russian oil by ratcheting up secondary tariffs, traders will track a meeting later Monday between Prime Minister Narendra Modi and Russian President Vladimir Putin, which is taking place as part of a regional summit in China.