Oil down as economic headwinds weigh on demand outlook

News Snapshot:

Oil prices lost more ground on Monday as economic headwinds pressured the global oil demand outlook and offset geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent crude fell 23 cents, or 0.3 per cent, to $78.33 a barrel by 0732 GMT after settling down 54 cents on Friday. The front-month U.S. West Texas Intermediate crude futures, for February delivery, were down 28 cents to $73.13 a barrel with the contract set to expire later on Monday. The more active March WTI contract was at $73.04 a barrel, down 21...