U.S. oil ends lower as glut woes keep prices under $60 a barrel

Crude-oil futures finished lower, with ongoing concerns over a global glut of supplies keeping prices for the U.S. benchmark under $60 a barrel.

Meanwhile, natural-gas prices climbed nearly 5% Monday as warmer weather throughout much of the U.S. lifted prospects for cooling demand, and the potential for a storm in the Gulf of Mexico fed concerns over energy production and consumption in the region.

July natural gas NGN15, +0.93%  jumped 13.9 cents, or 5.1%, to settle at $2.889 per million British thermal units on the New York Mercantile Exchange.

Analysts attributed the spike in prices to warmer weather in much of the U.S., which raises cooling demand for natural gas and may limit increases for supplies in storage in the weeks to come.

On the oil front, July crude CLN5, +0.92%  fell 44 cents, or 0.7%, to end at $59.52 a barrel, following a gain of 1.4% last week.

Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my