Oil prices fell on Monday for the second consecutive day as unfavorable economic factors continued to weigh on the outlook for global demand, outweighing geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend.
Brent crude fell 41 cents, or 0.5 percent, to $78.15 a barrel after falling 54 cents at settlement on Friday. West Texas Intermediate crude futures for the nearest maturity for February delivery fell two years to $73.39 a barrel.
The most active March contracts for West Texas Intermediate crude were at $72.95 a barrel, down 30 cents.
Source (Al-Arabiya.net Website, Edited)
