Oil falls as U.S. rigs rise, speculators cut bullish bets

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