Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production to tighten the market. Signs of faltering demand have also prompted weakening sentiment, dropping prices to levels comparable to when the output cuts were first announced late last year. Brent crude futures were down 13 cents, or 0.3 percent, at $47.24 per barrel at 0406 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 15 cents, or 0.3 percent, at $44.59 per barrel.

Get Two Days Free Trial and Commodity Market Tips>> https://www.justdial.com/Indore/Ripples-Advisory