Oil falls for sixth session to below $78
Oil prices fell for the sixth session to below $78 a barrel on Monday, as poor risk appetite and renewed concerns about energy demand prompted investors to sell down their positions.
Oil fell below $64 a barrel on Friday, to new 16-month lows, as gloom about a global economic downturn took the steam out of an OPEC agreement to cut output by 1.5 million barrels a day.