Oil Prices End Lower As Libya Resumes Output

By MarketWatch Markets MarketWatch Pulse

Oil futures ended lower Monday, giving back some of the previous week's gains, as Libyan oil production resumed over the weekend. West Texas Intermediate oil for May delivery at the New York Mercantile Exchange fell 36 cents, or 0.7%, to end at $50.24 a barrel. Libya boosted production backed to around 700,000 barrels a day as its largest oilfield came back on line a week after local militia had cut output by around a third.

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