Oil Prices End With a Loss, Pressured By Concerns Over U.S. Output

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices settled with a loss Monday for the first time in four sessions. Recent data pointing to sizable growth in U.S. crude production, including a U.S. government forecast Monday showing an expected rise in domestic shale-oil output in March, pressured prices despite reports of major production cuts by OPEC members. March West Texas Intermediate crude fell 93 cents, or 1.7%, to settle at $52.93 a barrel on the New York Mercantile Exchange.

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