Oil futures declined on Monday, with U.S. benchmark crude posting its lowest settlement since mid-March. “Disappointing economic numbers out of China continue to be a concern given the country’s outsized influence in expected crude demand growth this year,” said Robbie Fraser, manager, global research & analytics at Schneider Electric. “Additionally, trading continues to keep a close eye on U.S. Federal Reserve policy, where support for the dollar typically translates to weaker crude prices.” July West Texas Intermediate crude CLN23 fell $3.05, or nearly 4.4%, to settle at $67.12 a barrel on the New York Mercantile Exchange. That was the lowest price for a front-month contract since March 17, according to Dow Jones Market Data.
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