Crude edges down on oil glut worries

Crude prices inched down on Monday in Asia, paring 3 percent gains in the previous session amid worries over a global oil glut. It was also helped by a report that Russian President Vladimir Putin supports OPEC's attempts to implement an output freeze with other producers. Brent rallied to above $50 a barrel by late August helped by growing talk of a coordinated production freeze, but the prices have since fallen as few believe OPEC will cut output.