Oil prices slightly lower but likely to remain volatile

Crude-oil futures were down in Asian trade Monday and traders expect oil prices to stay volatile this week with little evidence of stronger demand or tighter supply to support a solid rebound.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +4.74%  traded at $48.40 a barrel in recent trade, down 29 cents in the Globex electronic session. March Brent crude LCOH5, -0.22%  on London’s ICE Futures exchange fell 33 cents to $49.84 a barrel.