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Global oil prices fall after posting largest weekly gain in over a year

Global oil prices dropped on Monday after experiencing their largest weekly increase in over a year. The decline comes as concerns about oversupply and reduced demand overshadow fears of a potential escalation of conflict in the Middle East that could disrupt exports from this key oil-producing region. By 0435 GMT, Brent crude futures were down 31 cents, or 0.4 per cent, trading at $77.74 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures fell by 20 cents, or 0.27 per cen
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