Crude oil prices settled lower in futures market on Monday, pressured by another weekly rise in the U.S. oil-rig count and uncertainty over whether OPEC will extend its production cuts into the second half of the year.

Light sweet crude oil (WTI) futures lost 0.24 dollar or 0.5 percent to close at USD 47.73 a barrel at the New York-based commodity exchange NYMEX.

Brent crude oil futures lost 0.05 dollar or 0.1 percent to close at USD 50.75 a barrel at NYMEX. WTI-Brent spread was stable on Mar-2017.

Natural gas futures remained flat at 3.131 a gallon at the NYMEX. RBOB gasoline futures remained flat at 1.626 a gallon at the NYMEX.

In refined products, RBOB heating oil futures remained flat at 1.509 a gallon at the NYMEX.