Brent crude oil futures settled down US$2.52, or 3.3%, at $72.89 a barrel, while U.S. West Texas Intermediate (WTI) crude ended $2.69, or 3.6%, lower at $71.26.
NEW YORK: Oil prices fell more than 3% on Monday after weak economic data from China and the United States, the world's top oil consumers, and higher crude output from OPEC producers stoked fears of weakness in oil demand and oversupply.
Brent crude oil futures settled down US$2.52, or 3.3%, at $72.89 a barrel, while U.S. West Texas Intermediate (WTI) crude ended $2.69, or 3.6%, lower at $71.26.
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