Crude prices fell more than 2% in early Asian trade Monday as volatility in the Chinese stock market and worries about the Chinese economy keep investors feeling bearish.
Regional stock markets also started the week lower. The Shanghai Composite Index SHCOMP, -5.33% fell 2.5% to 3106.99, while the Shenzhen Composite Index 399106, -6.60% was 3.3% lower after a modest recovery on Friday.
In Hong Kong, the Hang Seng Index HSI, -2.76% fell 2.4% and a gauge of Chinese firms listed in the city fell 3.25%. Australia’s benchmark S&P/ASX 200 XJO, -1.17% was down 1.8%, and South Korea’s Kospi SEU, -1.19% fell 0.9%. Japan’s market was closed for a national holiday.
