Beirut: Global oil prices fell by more than 5% in early Asian trading on Monday, while gold prices moved higher, according to WAFA. Brent crude futures dropped $5.52, or 6.28%, to $82.41 a barrel, while U.S. West Texas Intermediate crude futures fell $5.27, or 6.22%, to $79.40 a barrel.

According to National News Agency - Lebanon, gold prices rose as weaker oil prices eased concerns over inflation and the prospect of higher interest rates. Spot gold gained 0.7% to $4,067.06 an ounce, while U.S. gold futures rose 0.9% to $4,065.60 an ounce.