Crude oil futures ended lower on Monday amid fading worries of potential retaliation from Russia following weekend airstrikes on the country's ally Syria. A barrage of U.S., French and British missiles launched on Saturday destroyed much of Syria's chemical-weapons capabilities, but left President Bashar al-Assad's conventional military intact. Meanwhile, Crude-oil production from the shale sector is expected to rise by 125,000 barrels a day in May to 6.996 million barrels a day, according to a report from the Energy Information Administration (EIA). That's due in large part to the continued U.S. shale boom in the Permian basin.
Benchmark crude oil futures for May delivery fell $1.17 or 1.7 percent to settle at $66.22 a barrel on the New York Mercantile Exchange. June Brent crude declined 1.16% or 1.6% percent to settle at $71.42 a barrel on London's Intercontinental Exchange.