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Oil Prices Down by over 1 percent due to Increase in U.S. Drilling

Oil prices fell by more than 1% on Monday as U.S. drilling activity picked up, even as a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit. U.S. West Texas Intermediate (WTI) crude futures were at $51.92 per barrel at 0144 GMT, down 80 cents, or 1.5%, from their last settlement.…

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