After a rally on Friday, oil is tanking again on Monday morning.

Oil rocketed 8% on Friday, boosting stock markets around the world. Both Brent and US crude were trading higher in early trade on Monday.

But, at 9.30 a.m. GMT (4.30 a.m. ET), the price is diving again.

Brent is down 2.33% at $32.08:

 

While US crude is down 2.53% at $31.38.

 

Credit: BI