Oil prices fell on Monday, weighed down by global oversupply and slowing economic growth prospects, although the prospects of falling production lent crude some support. U.S. crude was trading at $38.15 per barrel at 0759 GMT, down 35 cents from their last settlement. Morgan Stanley said on Monday that “hedging plus storage” were capping U.S. crude prices, meaning that traders were selling futures to hedge forward production and storage which will pressure prices. The bank added that prices “will struggle to break $45 in the front, even if the USD continues to pullback.” Brent was down 26 cents at $40.13 a barrel after data showed that top exporter Saudi Arabia’s February oil production was near record highs at 10.22 million barrels per day (bpd). While Morgan Stanley said oil prices […]