Oil Extends Losses on Cautious Interest Rate Outlook

Oil pours out of a spout from the original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pa., on Oct. 5, 2017. Brendan McDermid/Reuters

LONDON—Oil prices fell on Monday, extending losses on market views that higher than expected inflation could delay cuts to high interest rates that have been capping growth in global fuel demand.

Brent crude futures fell 39 cents, or 0.5 percent, to $81.23 a barrel by 1001 GMT. U.S. West Texas Intermediate crude futures (WTI) were down 34 cents, or 0.4 percent, at $76.15.