World oil prices fell 1% on Monday amid concerns about the impact of the COVID-19 pandemic on economic recovery, investors continue to evaluate weak data on the US labor market, according to trading data, Prime reported.

The price of November futures for Brent crude oil fell by 1.06%, to 71.84 dollars per barrel, October futures for WTI fell 1.05%, to 68.56 dollars per barrel.

The oil market has seen negative dynamics on Monday, as Friday's US labor market data raised fears of an economic recovery under the influence of the COVID-19 pandemic. Thus, unemployment in August in the country, as expected, fell to 5.2% from the July level of 5.4%, but the number of people employed in non-agricultural sectors of the economy increased by only 235,000, while the forecast for growth was 750 thousand.

Nevertheless, according to ANZ analysts, quoted by the Wall Street Journal, oil may receive support in the near future due to signs of recovery in Asia.