Nymex oil futures settle at lowest level since March

West Texas Intermediate crude for September delivery fell $1.95, or 4.1%, to settle at $45.17 a barrel on Monday, the lowest close for a most-active contract since March. ICE Brent futures on Monday dropped below $50 a barrel for the first time since January. Crude was driven lower by concerns over global and domestic supplies, as well as weak economic data out of China.

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