Published February 8, 2016 2:40pm EST | Updated February 8, 2016 3:03pm EST

WTI Oil Settles Back Under $30 a Barrel

Oil futures fell Monday to settle below $30 a barrel, pressured by ongoing fears about the global oversupply of crude and a lack of action among major producers to cut output. March West Texas Intermediate crude finished at $29.69 a barrel on the New York Mercantile Exchange, down $1.20, or 3.9%. That was the lowest finish since Jan. 21.