12-09-2016 11:26 via uk.news.yahoo.com

Oil falls as U.S. drills more

By Amanda Cooper LONDON (Reuters) - Oil fell for a second trading day in a row on Monday, after speculators cut their bullish bets by the most in three months last week and U.S. crude drillers added more rigs for a tenth week running. Brent crude oil futures fell 53 cents on the day to $47.48 a barrel, by 0830 GMT, while U.S. West Texas Intermediate futures fell 66 cents to $45.22 a barrel. Traders said the price falls on Monday and Friday were a result of increasing oil drilling activity in the
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