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Oil prices extend gains as weaker dollar, tight supplies support

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Reuters UK

By Florence Tan SINGAPORE (Reuters) -Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose 69 cents, or 0.7%, to $101.85 a barrel by 0421 GMT, after a 2.1% gain on Friday. U.S. West Texas Intermediate (WTI) crude futures for August delivery edged up 27 cents, or 0.3%, to $97.86 a barrel, after climbing 1.9% in the previous session. The U.S. dollar retreated from multi-year highs on Monday, s…

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