WTI Oil Settles Back Under $30 a Barrel

By Myra P. SaefongMarketWatch Pulse

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.

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