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Oil prices retreat as data point to continued gains in U.S. output

“Oil prices settled with a loss on Monday, giving back part of the sharp gains seen in the previous session as recent data showed a rise in weekly U.S. output, as well as expectations for a further increase in domestic production next month” writes Markets Commodities Reporter for In a monthly report issued Monday, the Energy Information Administration forecast a monthly rise of 131,000 barrels a day in April U.S. oil production.

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