Crude oil futures fell below $61 a barrel amid speculation that OPEC won’t cut production further when it meets this week and as the U.S. dollar gained.
Crude oil for July delivery fell as much as 77 cents, or 1.3 percent, to $60.90 a barrel in after-hours electronic trading on the New York Mercantile Exchange, and traded at $60.93 at 9:27 a.m. London time.
Floor trading is shut for Memorial Day in the U.S. today. Markets in London are also closed for a bank holiday.
