After closing Friday at their highest level since November 18, crude oil prices on Monday fell 2% after production was restored in a large Iraqi oilfield.
The Lukoil West Qurna 2 oilfield accounts for 0.5% of the world oil supply and an export pipeline leaked last week but Reuters reported it had been restored.
West Texas Intermediate crude finished at $58.88 a barrel, down $1.20 or 2% on the New York Mercantile Exchange.
Brent crude, the global benchmark, closed at $62.49 a barrel, down $1.26 or 1.98%.
Natural gas prices took it on the chin today, tumbling nearly 8%. The closing price fell below the $5 it reached last week and settled at $4.869 after a fall of $0.420 or 7.94%.
Losers outnumbered gainers in the listing of Oklahoma energy stocks.
Gulfport Energy experienced at 4% drop for the day while Mammoth Energy Services rose a strong 3%.