NEW YORK—Oil prices fell Monday on concerns about robust U.S. production and weaker Chinese demand.

Light, sweet crude for July delivery settled down 99 cents, or 1.7%, at $58.14 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 62 cents, or 1%, to $62.69 a barrel on ICE Futures Europe.

U.S. oil prices have rallied...