NEW YORK (MarketWatch) -- Benchmark Nymex crude oil for August delivery CL1Q -0.95% fell 0.8%, or 68 cents, to $90.46 a barrel Monday, as prices extended the decline from last week. "The price is just picking up where we left last week, which is common for Sunday nights and Monday mornings," Jay Levine, technical analyst with Enerjay, said. Since the International Energy Agency's surprise announcement last Thursday that it would release 60 million barrels of oil from strategic reserves, crude-oil prices have shed more than $5, and will continue to retreat further as the week starts, analysts from Commerzbank said in a note. Oil prices slightly added to their decline after the Commerce Department reported flat consumer spending for May, the weakest reading since June 2010.
