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Oil Extends Drop on Glut Outlook, Prospect for End to Gaza War

Bloomberg.com · last updated

Oil slid for a second session as the market weighed a looming oversupply.

Brent fell toward $67 a barrel after tumbling 3.1% on Monday, the biggest decline in nearly two months. The OPEC+ alliance meets on Sunday and is likely to agree on raising output in November, though at a modest rate similar to that for October.

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