Prices for the U.S. crude-oil benchmark marked their lowest settlement in six years on Monday, as investors remained fixated on a supply glut.
On the New York Mercantile Exchange, April crude CLJ5, -0.50% settled at $43.88 a barrel, down 96 cents, or 2.1%, after tapping a low under $43. Prices for a most-active contract haven’t settled at a level this low since March 11, 2009. Last week, they fell 9.6%.
April Brent crude LCOJ5, -2.30% on London’s ICE Futures exchange declined by $1.23, or 2.3%, to end at $53.44 a barrel on the contract’s expiration day.
Elsewhere in metals trading, April platinum PLJ5, -0.43% eased by $7.30 to $1,107.90 an ounce, while June palladium PAM5, -0.85% shed $8.60 to $780.10 an ounce.
May copper HGK5, -0.32% settled less than a cent higher at $2.668 a pound.
Gold futures settled higher on Monday for a third session in a row, as weakness in the U.S. dollar helped lift the metal’s investment appeal, but pressure from a rally in the stock market kept a lid on gold’s gains.
Gold for April delivery GCJ5, +0.06% tacked on 80 cents, or 0.1%, to settle at $1,153.20 an ounce on Comex. May silver SIK5, -0.40% fared better, up 12.3 cents, or 0.8%, to $15.617 an ounce.