CNBC | US oil closes lower at $48.08, on Iran supply; Cushing draw cuts loss CNBC Oil prices slid on Monday as Iran vowed to ramp up output, though crude futures pared losses on data showing a stockpile drawdown at a major U.S. delivery hub. Oil fell as much as $1 a barrel or more in early trade, the day after the Mehr news reported ... Oil Dips on Supply Concerns Oil slides on Iran supply, US rigs; Cushing draw cuts loss Oil prices fall as global supply glut persists |