Oil Resumes Slide as Weak Economy Outweighs Supply Risks

Oil Resumes Slide as Weak Economy Outweighs Supply Risks
The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France, on March 28, 2019. Christian Hartmann/Reuters
Reuters
Updated:

SINGAPORE/LONDON—Oil prices fell on Monday, deepening a multi-week decline, as a weakening global economy offset supply woes stemming from the closure of a key pipeline supplying the United States and Russian threats of a production cut.

Brent crude futures were down 38 cents, or 0.4 percent, at $75.72 a barrel by 0900 GMT. U.S. West Texas Intermediate crude was at $70.76 a barrel, down 26 cents, or 0.3 percent.