Oil Prices Settle With a Loss For Sixth Consecutive Session

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices settled with a modest loss Monday, but registered a sixth consecutive session decline. In a monthly report Monday, the Energy Information Administration forecast a rise of 109,000 barrels a day in April shale oil production, from a month earlier, feeding concerns that rising U.S. crude output will offset OPEC-led efforts to rebalance the global market. April West Texas Intermediate crude lost 9 cents, or 0.2%, to settle $48.40 a barrel on the New York Mercantile Exchange.

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