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Oil down 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 were down $1.16, or 1.8 percent, by 11:45 a.m. EDT (1545 GMT), to trade at $64.33 per barrel.U.S. West Texas Intermediate (WTI) crude futures fell $1.21, or 2 percent, to $60.83 per barrel.Hedge funds and money managers have pared their bullish wagers on U.S. crude oil, with long positions falling last week for the first time ...

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First Published: Mon, March 12 2018. 22:26 IST
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