Crude prices continue decline

Crude oil prices fell on Monday for the sixth straight session as concerns eased on supply shortfall in the U.S. market.

Light, sweet crude for June delivery declined 46 cents a barrel to 61.47 dollars on the New York Mercantile Exchange.

London Brent crude was down 87 cents lower at 64.44 dollars a barrel.

The Monday's decline came after a sharp fall last week on continued expectations of weak crude demand.

The Department of Energy, which said in January to buy up to 129,033 barrels of crude oil a day, announced last week that it would reject bids for the purchase of up to 4 million barrels of crude as too high.

Meanwhile, the weekly inventory report showed U.S. crude oil stocks rose by 1.1 million barrels last week.

Source: Xinhua