Oil
prices ended in the red on Monday with lingering concerns over a global
supply glut and weakening demand pushing prices to their lowest
settlement in roughly two months.
Natural-gas
prices meanwhile, dropped for a fourth trading day in a row, losing
nearly 10% for the session to hold ground at their lowest level since
2012.
December
West Texas Intermediate crude fell by 62 cents, or 1.4%, to settle at
$43.98 a barrel on the New York Mercantile Exchange. The settlement was
the lowest since Aug. 27, based on the most-active contracts, according
to FactSet. December Brent crude on London’s ICE Futures exchange shed
45 cents, or 0.9%, to $47.54 a barrel.
Excess
supplies have been weighing on oil prices since the summer of 2014. Oil
prices have dropped by more than half since then, but the market is
watching for signs of lower output.
Source: MarketWatch
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