The oil price kicked off the week in the red as the market remained under selling pressure, with U.S. oil prices dropping below $42 a barrel. On Friday, oil-field services firm Baker Hughes Inc. BHI 0.76 % said that the number of rigs drilling for oil in the U.S. rose for the fourth straight week. This added to fears on the market that the global glut of oil, which has battered prices since last year, isn’t going away anytime soon. “We have concerns about crude fundamentals and prices in the second half of 2015 and 2016,” analysts at Morgan Stanley MS 0.79 % said in a report. “As a result, we see Brent range-bound through [that period].” Brent crude, the global oil benchmark, fell 1.2% to $48.61 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1.7% at […]