Monday produced another decline in crude oil prices, largely because of weakness in consumer spending in China, the largest oil importer in the world.
Investors also paused buying as they await the interest rate decision by the U.S. Federal Reserve.
The U.S. standard, West Texas Intermediate, fell 58 cents or 0.8% to settle at $70.71 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude finished down 58 cents as well, or 0.8% to $73.91 a barrel. On Friday, Brent had reached its highest level since Nov 22.
Natural gas prices also finished down, falling 7 cents or 2.01% to close at $3.21.
Monday’s trading brought a drop in most Oklahoma energy stocks. EV maker Canoo plunged nearly 17% and Vital Energy and Devon Energy were down 4%.