Oil Prices Fall by More Than $1 on Deflation Concerns in China

Oil prices fell by more than $ 1 a barrel, losing over 1.5% in early trading on Monday, after frustrating Chinese inflation information and a lack of clarity on Beijing's financial stimulus strategies stoked worries about demand.Brent crude futures were down $1.26, or 1.59%, at $77.78 per barrel.US West Texas Intermediate crude futures fell $1.20, or 1.59%, to $74.36 per barrel.Source: Qatar News Agency