WTI Crude Slips Back By The Close

Oil futures settled with a modest loss on Monday, reversing course in the last half hour of trading after spending much of the session above $50 a barrel. But the price spread between West Texas Intermediate and Brent crude still narrowed, as losses for Brent crude also worsened near the close. April crude fell 17 cents, or 0.3%, to settle at $49.59 a barrel on the New York Mercantile Exchange. Brent crude settled at $59.54 a barrel on the ICE Futures exchange, with prices down 4.9%, or $3.04.