Crude oil futures after a day of break once again declined on Monday, as the dollar strengthened on expectations the Federal Reserve will again raise interest rates in the next few months. Traders overlooked Saudi Energy Minister Khalid Al-Falih downplaying the impact of rising output from Libya, Nigeria and the United States, insisting that the oil market is expected to balance in the fourth quarter. The Saudi Energy minister’s comments came ahead of data on Monday showing Libya's oil production has risen by over 50,000 bpd to 885,000 bpd after the state oil firm settled a dispute.

Benchmark crude oil futures for July delivery ended lower by $0.58 or 1.2 percent to $44.17 on the New York Mercantile Exchange. In London, Brent crude for July delivery ended down by 0.82 percent to $46.98 on the ICE.

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