Oil prices sold off sharply Monday, touching a one-month low, as skepticism mounted that a global agreement capping output would be reached in Qatar later this month. The benchmark U.S. oil contract fell 3% to $35.70 a barrel on the New York Mercantile Exchange, after a 4% pullback on Friday. The global Brent crude contract ended down 2.5% at $37.69 a barrel on the ICE Futures Europe exchange. Both contracts ended at their lowest level since March 3. After rallying more than 50% between February and March, the market has given back 14% of those gains in the past two weeks as concerns grow about the persistent imbalance between supply and demand. Much of the rally was built on hopes that the meeting would yield an output freeze and little in the way of a recovery in supply-demand conditions; if it doesn’t come to pass, there would be little […]