U.S. oil prices fell Monday on concerns about a continued oversupply of crude, paring earlier gains. Light, sweet crude for April delivery settled down 17 cents, or 0.3%, to $49.59 a barrel on the New York Mercantile Exchange. Futures rose above $51 a barrel earlier in the session after a widely watched forecaster said crude supplies in a key storage hub grew by a smaller-than-expected amount last week. Data service Genscape Inc. reported that oil inventories in Cushing, Okla., grew by 1.39 million barrels in the week. Oil equipment stands in Texas. U.S. oil futures prices on Monday gained. Supplies in Cushing have grown for 12 straight weeks, often by more than two million barrels in a week, according to the Energy Information Administration. Cushing is the delivery point for the benchmark U.S. oil-futures contract, so U.S. oil prices are sensitive to supply levels at the storage hub. In […]