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Futures Movers: Oil battered anew on concerns about Russia, OPEC supply rise

Oil prices slumped anew on Monday, with investors nervous about the prospect of major oil producers such as Russia and Saudi Arabia boosting production, and as U.S. output also showed signs of picking up.

July West Texas Intermediate crude oil CLN8, -1.62% fell $1.35, or 2%, to $66.54 a barrel in electronic trading. On Friday, oil slumped 4% to settle at $67.88 a barrel on the New York Mercantile Exchange. That was the lowest finish for a most-active contract since May 1, according to FactSet data.

Oil will not trade in the U.S. on Monday in observance of Memorial Day.

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