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Oil down 1 percent on continued concerns over U.S. output

Reuters  |  NEW YORK 

By Ayenat MersieNEW YORK (Reuters) - Oil prices fell on Monday as investors grappled with ongoing concerns over rising U.S. output and tight OPEC supply, while last week's data showing speculators cut bets on oil suggested more selling could be seen.Brent crude futures slipped 54 cents, or 0.8 percent, to settle at $64.95 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 68 cents, or 1.1 percent, to settle at $61.36 per barrel.Hedge funds and money managers pared their bullish wagers on U.S. crude oil, with long positions falling last week for the first time in three weeks. ...

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First Published: Tue, March 13 2018. 01:14 IST