Oil prices slipped close to US$49 a barrel Monday, falling to levels last seen in February on rising U.S. supplies and slower economic growth. The Associated Press quoted analysts as saying that increased stocks and growing OPEC production were behind the downward drift. The light, sweet crude contract for June on the New York Mercantile Exchange fell 59 cents to US$49.13 a barrel by late morning in Europe. Unleaded gas fell two cents to US$1.4750 a gallon (3.8 liters). Brent crude was not trading, with London's International Petroleum Exchange closed because of a public holiday.
