Crude Oil Prices Drop as U.S. Output Worries Dominate

Crude oil prices continued to drop on Monday, as optimism linked to news of a decline in U.S. drilling rigs and upbeat U.S. jobs data was overshadowed by lingering concerns over U.S. output levels ahead of this week’s supply reports.

The U.S. West Texas Intermediate crude April contract was down 51 cents or about 0.82% at $61.53 a barrel by 10:03 a.m. ET (14:03 GMT).

Elsewhere, Brent oil for May delivery on the ICE Futures Exchange in London lost 68 cents or about 1.04% to $64.82 a barrel…

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