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Futures Movers: Oil prices pull back as investors lock in profits

Crude prices fell in early morning trade in Asia on Monday, as investors locked in their profits on growing signals that the U.S. Federal Reserve could raise interest rates as early as next month.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October CLV6, -1.55% traded at $46.97 a barrel, down $0.68, or 1.4%, in the Globex electronic session. October Brent crude LCOV6, -1.50% on London’s ICE Futures exchange fell $0.61, or 1.2%, to $49.32 a barrel.

Oil prices were choppy as Federal Reserve Chairwoman Janet Yellen signaled growing conviction that the central bank will raise short-term interest rates in the weeks or months ahead.

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