With profit taking, oil prices decline, giving up their previous gains

Crude oil prices in trading on Monday, retreating from the gains they achieved in the previous session, when they rose by more than 2% as traders resorted to Profit taking.
The price of West Texas Intermediate crude oil, the standard US oil, reached $65.60 per barrel for delivery next March, a decrease of $0.42, or 0.69%.
Traders took advantage of the rise in prices after the price of Oil increased by more than 2% from the previous session, reaching $61.07 per barrel.

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