Oil prices slipped on Monday as the COVID-19 outbreak in Beijing dampened hopes of a quick pickup in China’s fuel demand, while worries about global inflation and sluggish economic growth further exacerbated the market’s decline.

Brent oil futures fell $1.81, or 1.48%, to $120.20 a barrel by 0443 GMT, while U.S. West Texas Intermediate oil fell $118.81 a barrel , down $1.86, or 1.54%. Both contracts were down over $2 at the start of the session.

Prices fell after Chinese officials warned on Sunday of a “ferocious” spread of COVID-19 in the capital and announced plans to conduct mass testing in Beijing before Wednesday.