Investing.com -
Oil prices ticked lower in quiet trading ahead of the end of the year on Monday, as last week's sharp rally came to a halt.
U.S. crude futures were down 1.98% at $37.34 a barrel at 9.57 GMT, after rallying 9.7%, last week, the biggest weekly gain since early October.
Internationally traded Brent futures lost 1.94% to $37.16. The global benchmark increased 2.74%, last week, snapping a three-week losing streak.
The WTI crude contract maintained its premium over Brent.
U.S. crude has been firmer relative to Brent recently, on signs that the U.S. oil market is likely to grow tighter, while a global glut gets worse in 2016.