Oil prices fall as U.S. drillers add new rigs, speculators cut long positions

By Henning Gloystein SINGAPORE (Reuters) - Oil prices fell on Monday after U.S. oil drillers added rigs to look for new production as producers adapt to cheaper crude, and speculators cut positions betting on further price rises. Brent crude futures were trading at $47.58 per barrel at 0041 GMT, down 43 cents, or 0.9 percent, from their last settlement. U.S. West Texas Intermediate futures were down 50 cents, or 1.1 percent, at $45.38 a barrel.