Pace Research Commodity Update : Brent Crude Oil Prices Dip Nearly 1%

Oil prices fell on Monday, with a Reuters survey showing Saudi Arabia has boosted supplies to a near-record 10.7 million barrels per day (bpd) in a sign the world’s top crude exporter wants to make up for disruptions elsewhere. Brent crude oil futures were at $78.52 per barrel at 0058 GMT, down 71 cents, or 0.9 percent, from their last close. U.S. West Texas Intermediate crude futures were down 71 cents, or 1 percent, at $73.44 a barrel, after rising more than 8 percent last week.
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