Investing.com – Oil prices hit two-month lows Monday as supply concerns weighed.
U.S. crude was down 60 cents, or 1.32%, at $44.81 at 07:00 ET after a low of $44.55. Brent crude shed 1.24% to $46.18.
There are signs of slowing demand from Asia as Chinese inflation remains subdued.
Baker Hughes data Friday showed an increase of 10 oil rigs operating in the U.S. in the latest week.
The U.S. rig count has risen for five of the last six weeks.
This would suggest U.S. shale producers have learned to live with oil prices above $45.
The dollar was higher. A stronger dollar weakens demand for oil.