Crude futures settle lower

NEW YORK, June 3 (Xinhua) -- Oil prices fell on Monday.

The West Texas Intermediate for July delivery lost 2.77 U.S. dollars, or 3.6 percent, to settle at 74.22 dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery dropped 2.75 dollars, or 3.39 percent, to settle at 78.36 dollars a barrel on the London ICE Futures Exchange.