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Oil slides from nine-week highs as market looks to OPEC

Reuters  |  LONDON 

By Libby GeorgeLONDON (Reuters) - Oil prices edged down from nine-week highs on Monday, pressured by worries over high production from OPEC and the United States. Global benchmark Brent crude futures were down 67 cents, or 1.28 percent, at $51.75 a barrel at 1344 GMT. They traded as low as $51.56 a barrel earlier in the day.U.S. crude futures were down 67 cents, or 1.35 percent, at $48.91 per barrel, but up from the day's low of $48.78 a barrel. Both contracts stood more than $1 below the levels hit last week, which marked their highest since late May, when oil producers, led by the ...

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First Published: Mon, August 07 2017. 19:35 IST
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