Oil futures settled lower on Monday, after posting gains in the past two trading sessions. “Demand concerns continue to limit total upside and have the market hesitant” to push far above the $80 a barrel mark, said Robbie Fraser, an analyst at Schneider Electric. West Texas Intermediate crude for September delivery

declined by 53 cents, or nearly 0.7%, to settle at $80.72 a barrel on the New York Mercantile Exchange.

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