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Crude stays near 2-month low on oil glut worries
Crude prices inched down on Monday in Asia, staying not far from two-month lows hit in the previous session, amid worries over a global oil glut. A strong dollar and the fourth weekly rise in the U.S. oil rig count have helped relieve pressure on crude futures. London Brent crude for September delivery was down 4 cents at $45.65 a barrel by 2243 GMT on Sunday, after settling down 51 cents on Friday. The benchmark contract on Friday hit $45.17, the lowest since May 11. NYMEX crude for September delivery was down 5 cents at $44.14 a barrel, after closing down 56 cents on Friday. Libya's hopes to boost crude exports ... (full story)