Oil pumps in Bahrain. Oil prices started the week lower. Oil prices edged lower Monday as the dollar strengthened, and traders postponed betting on the market until the world’s oil cartel holds its semiannual meeting at the end of the week. Trading volumes in both the U.S. and global benchmark contracts were a fraction of their average levels. Light, sweet crude for July fell 10 cents, or 0.2%, to settle at $60.20 a barrel on the New York Mercantile Exchange, and the global Brent crude contract declined 68 cents, or 1%, to end at $64.88 on the ICE Futures Europe exchange. In the absence of major fundamental news for the market, the day’s moves were largely driven by the dollar, which gained in reaction to positive U.S. economic data on construction spending and manufacturing activity, analysts said. Oil often moves inversely to the dollar, as a stronger greenback makes […]