Oil falls more than $1.26, reverses most of Thursday's gains

SINGAPORE - Crude oil futures fell more than US$1 (S$1.26) in early Asian trade on Monday, reversing most of the gains made on Thursday.

Front-month Brent crude was down US$1.17 a barrel to US$122.26 a barrel by 2240 GMT (6.40am Singapore time), after slipping as low as US$122.17. It had settled at US$123.43 per barrel, up US$1.09, on Thursday.

US oil traded US$1.14 a barrel lower at US$102.17 by 2231 GMT, after slipping as low as US$102.03. The benchmark settled at US$103.31 a barrel on Thursday, gaining US$1.84.

Oil markets were closed on Friday due to Good Friday.