Oil prices fell more than 2% this evening as mounting concern over the euro zone debt crisis exacerbated investors' fears about the demand outlook for commodities.
Oil slid with stock markets, copper and the euro, while the dollar index and gold rose. Investors sought safer assets ahead of a US Federal Reserve meeting that may hint at further measures to bolster the world's biggest economy.
Investors will watch the outcome on Wednesday of a two-day meeting of the US Federal Reserve, and a G20 gathering on Thursday and Friday, for indications of steps governments and policymakers may take to restore market confidence.
Brent crude fell $2.60 to $109.62 a barrel, while US crude dropped $2.14 to $85.82.
