Doha: Oil prices tumbled at the close of trading on Monday, hitting their lowest levels in more than a week. Brent crude futures fell by $8.42, or 8.7%, to settle at $88.36 per barrel, their lowest closing price since July 17. U.S. West Texas Intermediate (WTI) crude futures also declined, dropping $6.70, or 7.5%, to close at $82.61 per barrel. According to Qatar News Agency, the significant decline in oil prices comes amid concerns over global demand and potential increases in supply. Market analysts are observing the situation closely, as geopolitical factors continue to influence oil prices. The recent drop reflects ongoing uncertainties in the market, impacting both Brent and WTI crude futures significantly.