Oil prices fell to a four-month low Monday on concerns about a selloff in Chinese stock markets and increased oil drilling in the U.S. U.S. oil prices have slumped 20% this month as the global glut of oil shows no signs of abating. Production remains near multidecade highs in the U.S., Saudi Arabia and elsewhere, and analysts say demand could decline in the second half of the year after the busy summer-driving season ends. Light, sweet crude for September delivery settled down 75 cents, or 1.6%, at $47.39 a barrel on the New York Mercantile Exchange, the lowest settlement since March 20. Brent, the global benchmark, fell $1.15, or 2.1%, to $53.47 a barrel, the lowest level since March 16. Brent prices have fallen 21% from a recent high reached in May, meeting the common definition of a bear market. Diesel futures lost 3.46 cents, or 2.1%, to $1.5956 […]