Oil prices extend losses amid rising U.S. production

fuelNEW YORK, April 24 (Xinhua) — Oil prices reversed early gains to settle lower Monday, as concerns about rising U.S. crude output continued to weigh on the market.

The West Texas Intermediate for June delivery decreased 0.39 U.S. dollar to settle at 49.23 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery dipped 0.36 dollar to close at 51.60 dollars a barrel on the London ICE Futures Exchange.

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