Oil prices fell in early Asian trading on Monday, continuing losses from the previous session after oil ended the week down by two to three percent amid market concerns that higher-than-expected inflation may delay the cut in US interest rates.
Brent crude futures fell 34 cents to $81.28 a barrel by 0121 GMT. US West Texas Intermediate crude futures also fell 33 cents to $76.16.
The morning decline was based on losses last week, when Brent crude fell about two percent and US West Texas Intermediate crude fell more than three percent on indications that a cut in US interest rates may be postponed for two months due to rising inflation.
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