Oil loses ground on jitters over economy, hint of MidEast tensions easing - Reuters:
Oil prices fell on Monday as investors fretted over the outlook for global economic growth, while weekend talks between Iran and major powers ended on a generally positive note, suggesting an easing of tensions in the Middle East.
Brent crude futures were down by 37 cents, or 0.6%, at $63.09 a barrel by 0717 GMT. Prices rose 1.6% last week.
U.S. West Texas Intermediate crude was down by 20 cents, or 0.4%, at $56.00 a barrel. WTI gained 1% last week.
Economic growth in the United States slowed less than expected in the second quarter with a boom in consumer spending, strengthening the outlook for oil consumption.
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