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London Brent crude down over $1 on economic gloom

Mon Jul 6, 2009 8:01am IST
 
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PERTH, July 6 (Reuters) - Oil prices fell below $65 a barrel on Monday, extending last week's decline, as weak economic data continued to cast doubt over the prospects of a global economic recovery and energy demand.

London Brent crude fell over $1 to $64.60 a barrel by 0227 GMT, while U.S. crude for August delivery CLc1 fell $2.03 to $64.70.

NYMEX floor trading was closed on Friday because of the U.S. Independence Day holiday, and although oil contracts were trading electronically, NYMEX did not issue an official closing price.

For a complete oil markets report, click on [O/R] (Reporting by Fayen Wong)

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