Oil prices drop

New York, March 15 - Oil prices dropped as Iran planned to increase its production to the level before the sanction. The West Texas Intermediate for April delivery on Monday moved down $1.32 to settle at $37.18 a barrel on the New York Mercantile Exchange, while Brent crude for May delivery decreased 86 cents to close at $39.53 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.