Oil prices fall on OPEC compliance concerns

Oil prices fell on Monday as investors were concerned that major oil exporters' output cut deal may not be effective enough.

The West Texas Intermediate for September Delivery lost $0.19 to settle at $49.39 a barrel on the New York Mercantile Exchange, while Brent crude for October delivery erased $0.05 to close at $52.37 a barrel on the London ICE Futures Exchange.

--IANS

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