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Oil prices slip on concerns over slowing economic growth

Oil prices fell on Monday as concerns over slowing economic growth dragged on markets.
Brent crude futures LCOc1 , which act as a benchmark for international oil prices, were at $71.60 per barrel at 0531 GMT, down 23 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 22 cents, or 0.3 percent, at $65.69 per barrel.

Shanghai crude futures for December delivery ISCZ8 , China's most actively traded contract, fell 3.4 percent to 488.2 yuan ($71.02) per barrel. funds have cut bullish bets as money managers retreat on bearish sentiment on oil prices," Benjamin Lu of Singapore-based Phillip Futures said on Monday.


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