Oil Settles Lower As EIA Sees Rise In August U.S. Shale-oil Output

By Myra P. SaefongMarketsMarketWatch Pulse

Oil prices settled lower Monday pressured by a report from the Energy Information Administration that shows a monthly rise in U.S. shale-oil production. The government agency sees a climb of 113,000 barrels a day in August output from seven major shale plays, compared with July. August WTI crude fell 52 cents, or 1.1%, to settle $46.02 a barrel on the New York Mercantile Exchange.

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