Oil fell below $104 per barrel on Monday as expectations of increased supply offset strong U.S. job growth. U.S. crude for August delivery was down 25 cents to $103.81 a barrel in electronic trading on the New York Mercantile Exchange.
The contract sunk as low as $103.70 on Friday before closing at $104.06. Brent crude, a benchmark for international oils, was up 2 cents at $110.66 on the ICE exchange in London. Crude fell despite signs the U.S. economy is steadily improving, which typically would increase demand. Employment grew by an unexpectedly large 288,000 workers in June.
Source:  AP