Oil Market Update : Epic Research Singapore

Oil futures fell sharply Monday, handing back a large chunk of last week’s rally, as investors turned their attention back to a global crude glut and renewed worries over demand.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG6, -0.03%  fell $1.29, or 3.4%, to end at $36.81 a barrel, snapping a four-session win streak that had sent the U.S. benchmark up 5.7% last week. U.S. oil futures remain down more than 30% since the end of last year.

February Brent crude LCOG6, +0.08%  on London’s ICE Futures exchange fell $1.27, or 3.4%, to $36.62 a barrel. Brent is down more than 36% this year.

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