Elsewhere in the energy complex, February gasoline RBG5, -0.46% gave up 4.87 cents, or 3.7%, to close at $1.2745 a gallon, while February heating oil HOG5, -0.74% dropped 4.89 cents, or 2.9%, to $1.6541 a gallon.
February natural gas NGG15, +0.82% plunged more than 15 cents, or 5.1%, to $2.7950 per million British thermal units, its lowest close since September 2012.
Oil futures plunged Monday, with the U.S. benchmark trading below the $46-a-barrel threshold for the first time in nearly six years after Goldman Sachs cut its crude outlook, predicting prices will remain low for a lengthy period.
West Texas Intermediate crude oil for February delivery CLG5, -1.58% fell $2.29, or 4.7%, to close at $46.07 a barrel after trading as low as $45.90. The close was the lowest since April 2009. The move followed a 0.9% loss during Friday’s regular session on the New York Mercantile Exchange. WTI futures are down more than 57% from a June 2014 high of $107.26 a barrel.
Meanwhile, Brent North Sea crude oil for February LCOG5, -5.81% the global benchmark, lost $2.68, or 5.4%, to $47.43 a barrel, its lowest finish since March 2009.
Elsewhere in metals trading, palladium for March delivery PAH5, -0.59% rose $1.70 to $801.85 an ounce, while April platinum PLJ5, +0.00% gained $3.60 to $1,233.70 an ounce.
High-grade copper for March delivery HGH5, -0.61% held steady at $2.75 a pound.