Crude oil futures extended their fall on Monday, with Nymex crude sliding near $47 a barrel amid concerns that a rift between Middle East oil producers will threaten OPEC's supply quota plan. Saudi Arabia and other Arab states severed diplomatic ties with Qatar, fuelling concerns about a disruption to the global deal to curb the glut in supply. Neighbors accused Doha of destabilizing the region by supporting militants and backing Iran. Traders were also concerned with weak economic data; the Commerce Department released a report showing a modest drop in new orders for US manufactured goods in the month of April.

Benchmark crude oil futures for July delivery ended lower by $0.26 or 0.55 percent to $47.40 on the New York Mercantile Exchange. In London, Brent crude for July delivery ended lower by 1 percent to $49.44 on the ICE.

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