Brent crude settled $2.22 lower on Monday at $92.17 a barrel, a decline of 2.35%. WTI dropped $2.05, also 2.35%, to close at $85.01 a barrel. The U.S. benchmark reached a one-week low during the session. The losses followed gains over the previous two weeks and came as traders absorbed new U.S. economic measures targeting Iran and entities maintaining business links with the country.