Oil falls after Donald Trump urges greater OPEC output to replace Iranian oil
Oil prices fell on Monday, extending a slump from Friday that ended weeks of rallying, after President Donald Trump demanded that producer club OPEC raise output to soften the impact of U.S. sanctions against Iran.
Brent crude futures were at $71.80 per barrel at 0215 GMT, down 35 cents, or 0.5 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $62.91 per barrel, down 39 cents, or 0.6 percent, from their previous settlement.
Both benchmarks fell around 3 percent in the previous session.
