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Oil Prices Dropped On Nigeria's Strike Suspension

Oil prices edged lower in Asian trade Monday as Nigeria's oil unions suspended a two-day-old strike over the weekend, relieving concerns of possible disruptions to shipments, dealers said.

The market remains focused on tight gasoline (petrol) supplies as the peak-demand US summer driving season got underway Saturday, they added.

New York's main oil futures contract, light sweet crude for delivery in July, was down 30 cents at $64.90 per barrel from $65.20 in US trades Friday.

Brent North Sea crude for July shed 23 cents to $70.46 per barrel. -Neftegaz.ru

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