The September WTI was under technical pressure as speculative traders sold off ahead of Wednesday's contract expiration, said Robert Yawger of Mizuho Securities USA. "People are unwinding some of the contract they have on their book," Mr Yawger said.
The downward trend was exacerbated by market expectations of a third consecutive week of increases in crude oil supplies at the Cushing, Oklahoma terminal, the price settlement point for WTI, according to Mr Yawger.
Brent extended its losses after shedding $US1. 93 and settling at a 14-month low Monday. "The downswing that has been observed in recent weeks and was briefly interrupted last Friday is continuing.
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It is still under pressure from a combination of factors: plentiful supply, a lack of supply outages and weak refinery demand," Commerzbank said in a research note.
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