The oil price has slumped to an eight-month low following weak data employment figures in the US.
Brent crude futures settled at $76.81 a barrel on Friday, down $2.71 or 3.41%. As of 7.30am on Monday morning, that's dropped a further 1.08% to $75.98.
Slow US job growth is weighing heaviest on the oil price as unemployment increased to 4.3%, raising fears of a possible retention in the world's largest economy.
Nasdaw also responded on Friday with a 3% crash, while the S&P 500 almost hit its worst day in two years.
Tim Snyder, chief economist at Matador Economics, said: "We moved from a demand-driven market to a geopolitical one for maybe two days then we absolutely nosedived on all this economic data."
FTSE 100
The UK's flagship share index, the FTSE 100, was down 175-points 7,999 shortly after opening this morning.
Brent crude oil futures were down 1.08%, trading at $75.98 a barrel.
Companies reporting today
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