Oil prices settle lower, even as Saudi Arabia announces additional June output cut - MarketWatch:
West Texas Intermediate crude for June delivery CL.1, 2.49% CLM20, 2.49% on the New York Mercantile Exchange lost 60 cents, or 2.4%, to settle at $24.14 a barrel after touching an intraday low of $23.67. The front-month contract rose 25.1% last week, according to Dow Jones Market Data.
Global benchmark July Brent crude BRNN20, +1.85% saw a late change to its settlement on ICE Futures Europe on Monday, losing $1.34, or 4.3%, to settle at $29.63 a barrel. Brent last week logged a 17.1% weekly climb.
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