Oil prices gave up earlier gains on Monday as rising U.S. output loomed over markets, despite a slowdown in rig drilling activity. U.S. West Texas Intermediate (WTI) crude futures were at $61.91 a barrel at 0755 GMT, down 13 cents, or 0.2 percent. Brent crude futures were at $65.38 per barrel, down 11 cents, or 0.2 percent, from their previous close. Analysts said a liquidation of long positions had contributed to the dips. “Money managers liquidated 15,416 long positions in WTI last week while creating 4,386 new shorts,” Dutch bank ING said on Monday. The dips came after crude prices had risen on Friday and earlier on Monday. “A falling rig count and the strong employment data may have helped support prices,” said William O’Loughlin, investment analyst […]