Oil Prices Shed Over 3% As Market Digests OPEC+ Move

Brent crude was trading down well over 3% on Monday, marking the first time the global benchmark has been below $80 since February, with the U.S. crude benchmark down over 3.5% following the OPEC+ agreement to start phasing out voluntary cuts in October.  On Monday at 11:54 a.m. ET, Brent crude was trading down 3.29% at $78.44, for a loss of $2.67 on the day. West Texas Intermediate (WTI) was down 3.51% at $74.29 per barrel, for a loss of $2.70 per barrel.  On Sunday, OPEC+ agreed to extend both voluntary and group-wide…