Oil drops as oversupply, economic growth worries weigh
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NEW YORK (Reuters) - Oil prices fell about 1 percent on Monday on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over the prospects for global economic growth and fuel demand.Brent crude oil fell 26 cents, or 0.4 percent, to $60.02 a barrel by 10:52 a.m. EST (1552 GMT). U.S. light crude was 73 cents, or 1.4 percent, lower at $50.47.U.S. crude futures fell after inventories at the storage hub of Cushing, Oklahoma rose by more than 1..