Oil prices fall on oversupply worries as virus hits China demand

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Oil prices fall on oversupply worries as virus hits China demand
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Oil prices on Monday extended their decline from an early January peak above $70...

FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann

Brent crude LCOc1 hit a low of $53.63 a barrel and was at $54.09 by 0100 GMT, down 38 cents. U.S. West Texas Intermediate fell 38 cents to $49.94 a barrel after striking a low of $49.56.

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