WASHINGTON (dpa-AFX) - Crude oil prices fell Monday amid signs that U.S. stockpiles are growing.
Also, analysts are unconvinced that OPEC and Russia will hammer out an extension to their supply quota plan later in the week.
Russia is said to be on board with extending the supply quota plan through 2018, but is pushing for OPEC assurances that all members of the cartel will comply with the plan.
WTI light sweet crude oil was down 73 cents at $58.22 a barrel.
In economic news, U.S. new home sales surged up by 6.2 percent to an annual rate of 685,000 in October from the revised September rate of 645,000.
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