Oil futures fell on Monday and U.S. crude slipped below $50 a barrel intraday as ample supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices.
U.S. refined-products futures also oscillated. An increasing supply of refined products, especially diesel fuel being offered by Saudi Arabia, helped push U.S. ultra-low diesel futures to multi-month lows intraday, adding to bearish concerns about prices in the oil futures complex.
Brent September crude fell 45 cents to settle at $56.65 a barrel, having traded between $56.33 and $57.44.
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