Oil Fell Below $59

Oil fell below $59 a barrel on Monday as traders doubted all OPEC members would follow Saudi Arabia's lead to curb output under an agreement reached last week.

U.S. crude fell 86 cents to $58.47 a barrel by 1009 GMT. The front month contract lost $1.68, more than 2 percent, on Friday to hit its lowest level this year.

London Brent crude dropped 93 cents to $58.75.