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Oil fell more than 3 per cent on Monday, hit by weaker Chinese equities and record North Sea crude production data that added to global oversupply concerns. The US Labor Day holiday helped keep trade thin.
Brent crude for October was down $1.60 at $48.01 a barrel by 1545 GMT, having reached an intraday low of $47.70. US crude for October was down $1.45 at $44.60, having reached an intraday low of $44.30.
