Oil Prices Settle At Lowest Level In Nearly a Week

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices fell on Monday to settle at their lowest level in almost a week. Data last week showing a climb in active U.S. oil rigs raised concerns over rising U.S. production, while the removal of anti-protectionist language in the Group of 20 policy statement fed uncertainty over global growth. April West Texas Intermediate crude lost 56 cents, or 1.2%, to settle at $48.22 a barrel--the lowest finish since March 14, according to FactSet data.

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