Oil futures settled lower on Monday, giving back a portion of the back-to-back prices gains late last week. Overall, oil prices have “generally shifted lower over the past month as economic headwinds overshadow other factors,” said Robbie Fraser, manager, global research & analytics at Schneider Electric. Last week brought a “seemingly supportive” set of U.S. inventory data, with a more than 5 million-barrel weekly drop in crude supplies and an uptick in refined product demand, he said. However, the numbers “struggled to translate to meaningful price support,” as crude continued to come under pressure from concerns around…
