SINGAPORE: Oil prices fell about $1 on Monday, extending losses after the world's top exporter Saudi Arabia slashed crude contract prices for Asia over the weekend, reflecting well-supplied global markets and concerns over the outlook for demand.
Brent crude futures for November fell 98 cents, or 1.4%, to $71.63 a barrel by 0613 GMT while U.S. West Texas Intermediate crude for October was at $68.34 a barrel, down 95 cents, or 1.4%.
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