Oil falls on oversupply, demand concerns; U.S. crude hits 3-month low

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices fell more than 2 percent on Monday, with U.S. crude hitting a three-month low, on rising concerns that a global glut of crude and refined products would pressure markets, delaying a long-anticipated rebalance in the market. Data from market intelligence firm Genscape pointing to an inventory rise of 1.1 million barrels at the Cushing, Oklahoma delivery point for U.S. crude futures in the week to July 22 weighed on crude prices, said traders