Oil prices fall on profit-taking

NEW YORK, Dec. 4 (Xinhua) -- Oil prices retreated on Monday, as investors were looking for excuses to lock in gains after recent solid gains.

The West Texas Intermediate for January delivery decreased 0.89 U.S. dollar to settle at 57.47 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery shed 1.28 dollars to close at 62.45 dollars a barrel on the London ICE Futures Exchange.