Oil prices fell on Monday amid thin trade ahead of the year-end as traders await more economic data from China and the United States later this week to gauge growth in the world's two largest oil consumers.
Brent crude futures fell 6 cents to $74.11 a barrel, with the more widely traded March contract at $73.73 a barrel, down 6 cents. U.S. West Texas Intermediate crude fell 8 cents to $70.52 a barrel.
Both crudes rose 1.4 percent last week, supported by a larger-than-expected drawdown in U.S. crude inventories in the week to Dec. 20 as refinery consumption rose and demand for fuel increased during the holiday season.
Source (Al Arabiya.net, edited)
