WTI Oil Settles With a Loss Of 6%

Oil futures fell 6% on Monday as downbeat economic data from China and growing doubts over a coordinated oil-producer output cut helped prices settle lower for the first time in five sessions. March West Texas Intermediate crude finished at $31.62 a barrel on the New York Mercantile Exchange, down $2. Prices had gained roughly 10.8% over the past four consecutive sessions.