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Futures Movers: Oil extends last week’s sharp retreat as demand worries sour sentiment

Crude futures prices fell Monday as investors digested worrisome demand updates issued last week while keeping tabs on typically price-supportive risks percolating in the Middle East.

Among the latest headlines, Iran will break the uranium stockpile limit set by Tehran’s nuclear deal with world powers in the next 10 days, the spokesman for the country’s atomic agency said Monday, according to the Associated Press.

Still, in closely watched oil-market report out Friday, the International Energy Agency downgraded its 2019 forecast for global oil demand for a second straight month, citing, in part, a global economic slowdown. The agency cut its oil demand growth forecast to 1.2 million barrels a day from 1.3 million barrels a day the previous month.

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