Oil prices fell on Monday as concerns of global oversupply, a firmer dollar and lackluster U.S. nonfarm payroll data on Friday weighed on oil markets. The long Labor Day holiday in the United States may also lead to thin trading later in the session. “U.S. nonfarm payrolls turned out weaker than expected causing oil prices to fall on anticipations of a weaker economy,” Singapore’s Phillip Futures said in a Monday note.