Oil prices resumed their decline on Monday, falling on renewed concerns that European coronavirus lockdowns could slow any recovery in demand for fuel products. Brent crude was down 24 cents, or 0.4%, at $64.29 a barrel by 0945 GMT. US oil was off by 32 cents, or 0.5%, at $61.10. Both contracts fell by more than 6% last week after making steady gains for months on the back of output cuts and an expected demand recovery. “The wake-up call was long overdue,” said Stephen Brennock at oil broker PVM. “While the supply side of the oil coin is supportive thanks to OPEC+ constraints, the same can’t be said on the demand front.