Oil prices dropped on Monday as several countries reported new cases of infections, raising concerns of a second wave amid a recovery in fuel demand. Brent crude fell 2.4%, or 93 cents, at $37.80 per barrel.

Oil prices fell earlier on Friday, losing a portion of its gains from the previous session. The decline comes amid uncertainty as to whether OPEC will extend its plan to cut output after the month of June.

Oil prices gained on Tuesday, lifted by major oil producers  commitment to the production cuts and recovering fuel demand. Brent crude futures rose 1.4%, or 50 cents, at $36.03 per barrel. U.S. West