Oil fell on Monday as investors prepared for an extra 1 million barrels per day (bpd) of oil to hit markets after OPEC agreed to raise production and as U.S. equity markets slipped on trade war fears. Brent crude futures LCOc1 fell 82 cents, or 1.1 percent, to settle at $74.73 a barrel. U.S. light crude CLc1 settled at $68.08 a barrel, down 50 cents. “The trade tensions and overall global market concerns are what’s holding crude back today,” said Bill Baruch, president of Blue Line Futures in Chicago. U.S. stocks sank in a broad sell-off on escalating U.S.-China trade tensions. “The expectation that we’ll see more crude out of OPEC and that supplies in the U.S. will be tight because of the Syncrude outage … is going to keep the market on edge,” said Phil Flynn, analyst at Price Futures Group. Losses in U.S. […]