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Oil prices under five-month highs on weaker dollar, low US crude inventory

Brent crude fell 7 cents to $45.10 a barrel by 0802 GMT, while US crude was down 25 cents at $41.94

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The dollar index, which measures the greenback against a basket of six major currencies, logged its biggest monthly percentage fall in a decade in July

Reuters London

Oil prices slipped just below five-month highs on Thursday, with support from a weak dollar and falling US crude inventories undermined by bearish sentiment about fuel demand.

Brent crude fell 7 cents to $45.10 a barrel by 0802 GMT, while US crude was down 25 cents at $41.94.

The two benchmarks rose to their highest since March 6, completing a four-day rally, after the Energy Information Administration reported a much bigger than expected drop in US crude stockpiles.

The dollar index, which measures the greenback against a basket of six major currencies, logged its biggest monthly percentage fall in a decade in July