Crude oil futures fell nearly $1 a barrel Monday in what appeared to be profit-taking following last week’s sharp advance.
Light sweet crude for July delivery slipped 98 cents to $54.05 a barrel in early afternoon trade on the New York Mercantile Exchange. Oil prices are more than 40 percent higher than a year ago. In London, Brent crude declined by 47 cents to $53.70 a barrel on the International Petroleum Exchange.
