U.S. oil futures settled lower Monday for a fourth session in a row, as trade tensions fed worries over a slowdown in energy demand. Prices extended their losses in electronic trading, heading into bear market territory.
July West Texas Intermediate oil fell 25 cents, or 0.5%, to settle at $53.25 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since Feb. 12, according to FactSet data. In electronic trading, it fell further, to $52.75. A settlement at or below $53.04 for the front-month would mark its entry into a bear market, according to Dow Jones Market Data, defined as a drop of 20% or more from its recent high. It settled at $66.30 on April 23.
Source : Marketwatch