Crude oil prices took a $2 drop on Monday and settled at nine-month lows while Oklahoma energy stocks recorded losses—some as much as 7%.
The strengthening dollar put more pressure on the market as investors await details of new sanctions on Russia.
West Texas Intermediate for November delivery fell $2.06 or 2.3% to settle at $76.71, the lowest price since January 6.
Global benchmark Brent crude for November delivery fell 2.4% or $2.09 and closed at $84.06 a barrel, a level not seen since Jan. 14.
October natural gas rose 7 cents to $6.90 per 1,000 cubic feet.
Losses far outnumbered any gains recorded Monday by Oklahoma energy stocks. One of the biggest declines was the 7% loss recorded by NGL Energy Partners while Ovintiv dropped 6%.