Oil prices edge down on worries over slowing economic growth

Oil prices fell on Monday as concerns over slowing economic growth weighed on markets.

Brent crude futures, which act as a benchmark for international oil prices, were at $71.59 per barrel at 0413 GMT, down 24 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 24 cents, or 0.4 percent, at $65.67 per barrel.

Reuters technical commodity analyst Wang Tao said Brent and WTI would likely come under pressure soon, testing support at $70.62 per barrel and $64.83 per barrel respectively.

"Disappointing industrial data out of China along with concerns over emerging market economies centred on Turkey weighed on commodities," Edward Bell of Emirates NBD bank said in a note on Sunday.

In the United States, U.S. energy companies last week kept the oil rig count unchanged at 869, according to the Baker Hughes energy services firm .

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