OIL PRICE: ABOVE $78
REUTERS - Oil prices fell on Monday as supplies from Saudi Arabia and Russia rose while economic growth stumbled in Asia amid an escalating trade dispute with the United States.
Benchmark Brent crude oil LCOc1 fell $1.24 a barrel to a low of $77.99 before recovering to $78.40, down 83 cents, by 0735 GMT. U.S. light crude CLc1 was 50 cents lower at $73.65.
Oil prices rose strongly last week, with the U.S. crude contract hitting its highest in 3-1/2 years at $74.46.
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