Oil Futures Settle At a Three-month Low

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures fell on Monday to settle at their lowest level in three months, as a glut of petroleum-product supplies implied a slowdown in crude refinery demand and the growing number of active U.S. oil rigs pointed to stronger production. September WTI crude fell by $1.06, or 2.4%, to settle at $43.13 a barrel on the New York Mercantile Exchange. That was the lowest settlement for a most-active contract since April 26, according to FactSet data.

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