Reuters file photo
Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.
Brent crude futures were down 48 cents, or 0.
U. S. West Texas Intermediate (WTI) crude was down 39 cents, or 0. 6 percent, at $70. 62 a barrel, reports Reuters.
Supply outages in Libya and strike action in Norway and Iraq pushed oil prices higher late last week, although prices still ended down for a second straight week.