Oil prices down on dwindling storm impact, Chinese economic data
Share:
NEW YORK (Reuters) - Oil prices sank about 1% on Monday on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook.Brent crude futures settled at $66.48 a barrel, losing 24 cents, while U.S. crude settled at $59.58 a barrel, shedding 63 cents, or 1.1%. Both contracts last week made their biggest weekly gains in three weeks on cuts in U.S. oil inventories and diplomatic tensions in the..