CNBC: Oil prices fall 2%, dipping below $50, on oversupply concerns

CNBC reports: “Oil prices fell on Monday on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over the prospects for global economic growth and fuel demand. Brent crude oil was down 66 cents, or 1.1 percent, at $59.62 per barrel by 11:48 a.m. ET (1648 GMT), after earlier rising as high as $61.21. U.S. light crude fell $1.12, or 2.2 percent, to $50.08, …

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Source: The Loadstar

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