Oil Futures Settle At a Two-month Low

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures fell on Monday to settle at their lowest level in two months, with prices pressured by expectations for a rise in global production and the potential for weaker energy demand in the wake of the U.K.'s plan to exit the European Union. A survey from S&P Global Platts released Monday showed a climb in production from the Organization of the Petroleum Exporting Countries to its highest level in almost eight years. August WTI crude fell 65 cents, or 1.4%, to settle at $44.76 a barrel on the New York Mercantile Exchange.

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