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Oil prices fell more than 4% on Monday to close Brent to its lowest level in three months as Libyan ports reopened and traders considering potential increases in Russia's supply and other producers. Dollars a barrel, down 4.63%. Brent fell to $ 71.52, the lowest price since mid-April
The US crude dropped $ 2.95 to close at $ 68.06, down 4.15%.
Lower Prices Reversed Last Week's Earnings A Labor Dispute in Norway and Protests in Iraq
Russian Minister of Energy Alexander Novak told reporters on Friday that the Russia and other oil producers could increase production by one million barrels a day. The United States can withdraw its strategic oil reserves which will increase the supply in the market.
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