The Wall Street Journal reported that U.S. oil contracts diverged from global contracts on Monday.
As quoted in the publication:
Light, sweet crude for August delivery fell 10 cents, or 0.1%, to $104.49 a barrel on the New York Mercantile Exchange. The August contract expires at settlement on Tuesday. The more actively traded September contract fell 18 cents, or 0.2%, to $102.68 a barrel. Brent crude for September delivery on ICE Futures Europe rose 28 cents, or 0.3%, to $107.96 a barrel. The closely watched price gap between the two September contracts traded at $5.28 a barrel, up from $4.82 a barrel Monday, which was the narrowest gap since October 2013.