Oil fell about 3 percent on Monday, its biggest one-day percentage drop in a month, after an increase in U.S. crude drilling pointed to further supply growth amid continuing concerns about a global economic slowdown.
Brent crude oil futures sank $1.71, or 2.8 percent, to settle at $59.
93 a barrel, while US West Texas Intermediate crude slumped $1.70, or 3.2 percent, to settle at $51.99 a barrel.
The last time both crude benchmarks saw bigger daily percentage drops was on Dec. 27.
"We're seeing oil prices really start.....