Oil prices fall after disappointing Chinese inflation data

Following concerns about demand sparked by dismal Chinese inflation statistics and uncertainty around Beijing’s intentions for economic stimulus, oil prices dropped more than $1 per barrel on Monday, falling more than 1.5 percent in early trading.

U.S. West Texas Intermediate (WTI) oil futures were down $1.20, or 1.59 percent, at $74.36 a barrel at 0020 GMT, while Brent crude futures were down $1.26, or 1.59 percent, at $77.78 a barrel.