NEW YORK, July 27 (UPI) -- Crude oil prices moved slightly downward Monday, after a sharp decline in China's stock market and continuing concerns regarding an excess of oil in the world market.
West Texas Intermediate (WTI), the U.S. benchmark of light sweet crude oil, declined 0.71 percent to $47.43 per barrel Monday. Brent crude oil prices declined to $53.51 per barrel, a drop of 1.09 percent.