US crude plunged 5% to below $34 a barrel on Monday, its lowest since May, as fresh lockdowns announced across Europe to contain the resurgence of the coronavirus pandemic clouded demand outlook. Leaders in France, Germany and more recently England have ordered their countries back into lockdown. Bearish sentiment was also fueled by the resumption of Libya’s oil exports, which will add more 1 million barrels per day to an already oversupplied market.