Oil futures declined for a second straight session on Monday, with U.S. prices down nearly 2% for the session. "Chinese GDP data that confirmed the economy's weakness" pressured oil prices, StoneX's Kansas City energy team, led by Alex Hodes, wrote in Monday's newsletter. China reported that its economy grew 6.3% year-over-year in the second quarter, missing expectations for 7.1% growth.

West Texas Intermediate crude for August delivery fell by $1.27, or 1.7%, to settle at $74.15 a barrel on the New York Mercantile Exchange.

Source : Marketwatch