Oil Market Update

Crude-oil futures fell about 3% in Asian trade Monday on strikes at U.S. refineries and sluggish manufacturing data from China.

On the New York Mercantile Exchange, light, sweet crude futures for March delivery CLH5, -2.07%   traded at $46.95 a barrel, down $1.24 in the Globex electronic session. Nymex crude lost 9.4% last month and has been down for seven consecutive months.

Brent crude for March delivery LCOH5, -1.91%  fell $1.31, or 2.5%, to $51.60 a barrel on London’s ICE Futures exchange.