Oil futures fell sharply on Monday, pressured by growing expectations that the Organization of the Petroleum Exporting Countries will decide to ease crude production curbs when it meets later this week. July West Texas Intermediate crude lost $1.06, or 1.6%, to settle at $64.75 a barrel on the New York Mercantile Exchange. Prices have now posted declines for three straight sessions and that was the lowest finish for a front-month contract since April 9, according to FactSet data.
Read the full story: Oil prices drop on growing expectations that OPEC will curb output cuts