Oil prices hovered near two-month lows on Monday as supply fears receded while concerns over China's fuel demand and rising interest rates weighed on prices. Brent crude futures for January had slipped 28 cents, or 0.3%, to $87.34 a barrel by 0103 GMT after settling at their lowest since Sept. 27. U.S. West Texas Intermediate (WTI) crude futures for December were at $80 a barrel, down 8 cents, ahead of the contract's expiry later on Monday. The more active January contract fell 21 cents to $79.90 a barrel.
Meanwhile, copper, silver and gold prices also witnessed a decline.
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