Oil futures fell on Monday, with traders awaiting the outcome of an OPEC+ Joint Ministerial Monitoring Committee meeting later this week.

Members of the Organization of the Petroleum Exporting Countries and their allies will decide whether to extend current production cuts by an extra month or "risk a taper tantrum as countries continue to experience reopening setbacks," said Craig Erlam, senior market analyst at Oanda. August West Texas Intermediate oil fell 45 cents, or 1.1%, to settle at $40.10 a barrel on the New York Mercantile Exchange.

Source : Marketwatch