Oil dropped after a four-day gain as investors waited for clearer signals on supplies, while also tracking the wider market fallout from President Donald Trump’s move to oust a Federal Reserve governor.
Brent fell toward $68 a barrel, while West Texas Intermediate was near $64. On Monday, the Department of Homeland Security issued a draft notice to double tariffs on all Indian imports to penalize the country for buying Russian crude. The move — due to take effect Wednesday — is part of broader effort to broker a peace deal between Russia and Ukraine.