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Futures Movers: Oil prices slip after active rigs increase in the U.S.

Crude futures fell in early Asian trade Monday, dragged lower by the increase in active oil rigs in the U.S. and a stronger greenback.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX6, -0.30% traded at $50.25 a barrel, down $0.10 in the Globex electronic session. December Brent crude LCOZ6, -0.06% on London’s ICE Futures exchange fell $0.03 to $51.92 a barrel.

As oil is traded in dollars, a stronger dollar makes oil more expensive for traders holding a different currency. The greenback has been trading at a multimonth high and was last up 7 cents at 88.53, according to the Wall Street Journal Dollar Index BUXX, -0.02% .

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