WTI crude oil futures dropped over 1 percent in mid Asia trades on Monday, slipping below 60 after Russia's Novorossiysk port reopened following a two-day shutdown caused by a Ukrainian drone strike. Prices were further weighed down by the IEA's warning of a potential surplus of up to 4 million barrels per day next year as supply rises and demand cools. A firmer US dollar also pressured the market, with the dollar index nearing 99.5 ahead of a wave of delayed US economic releases, including the September jobs report, flash PMIs, existing home sales and the weekly ADP figures. On the domestic front, MCX crude oil futures for December traded nearly 1 percent lower at ₹5298 per barrel.

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