Oil prices continued to decline on Monday amid signs of weak demand for fuel and statements from Federal Reserve officials that undermined hopes of lowering interest rates, which could slow growth and reduce demand for fuel in the largest global economy.
By 0025 GMT, Brent crude futures fell 26 cents, or 0.3 percent, to $82.53 per barrel. West Texas Intermediate crude futures fell 23 cents, or 0.3 percent, to $78.03 a barrel.
The two crude oil prices fell by about a dollar at settlement on Friday when central bank officials discussed whether US interest rates were high enough to return inflation to the two percent level.
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