West Texas Intermediate crude-oil futures turned lower on Monday to slip back below $50 a barrel by the close, but prices still narrowed their spread with Brent crude as losses for the European benchmark also worsened.
crude futures for delivery in April CLJ5, +0.73% fell 17 cents, or 0.3%, to settle at $49.59 a barrel. Prices had spent much of Monday’s trading session above the $50 mark, but turned lower in the last half hour of the trading session as losses for Brent crude intensified.
April Brent crude on London’s ICE Futures exchange LCOJ5, +1.49% dropped $3.04, or 4.9%, to settle at $59.54 a barrel.
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