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Oil company National Oil Corporation has reopened at least one field

Benchmark Brent crude futures ended the session 53 cents lower at $55.36 while U.S. West Texas Intermediate (WTI) crude futures settled down 53 cents at $52.65 a barrel.
Fighting in Libya has cut oil output, but state oil company National Oil Corporation has reopened at least one field.
Volumes were thin, with about 152,000 Brent futures contracts and about 296,000 WTI contracts changing hands, less than half of Thursday’s trading volumes.
<RIG/U>Many analysts remained positive on oil prices.
REUTERS/Lee Jae-WonNEW YORK Crude oil prices slipped 1 percent on Monday in subdued trading after a long Easter holiday weekend, on news of rising U.S. shale production and profit-taking following three straight weeks of gains.

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Oil edges lower, trade thin as some cash in after 3-week rally

Oil edges lower

[nL3N1HP05K] Fighting in Libya has cut oil output, but state oil company National Oil Corporation has reopened at least one field.
[nL8N1HK3OF][nL1N1HP02E] <RIG/U> Many analysts remained positive on oil prices.
Volumes were thin, with about 152,000 Brent futures contracts and about 296,000 WTI contracts changing hands, less than half of Thursday’s trading volumes.
“So that gives the market pause at how effective they’re going to be at taking oil out of the market.”
CHART: U.S. oil to retest resistance at $53.29 http://tmsnrt.rs/2prZqNl CHART: Brent oil may retest resistance at $56.33 http://tmsnrt.rs/2prvJw4  (Additional reporting by Libby George in London, Aaron Sheldrick in Tokyo; editing by David Gregorio and Richard Chang) ((devika.kumar@thomsonreuters.com; +1-646-223-6059; Reuters Messaging: devika.kumar.thomsonreuters.com@reuters.net)) Keywords: GLOBAL OIL/ (UPDATE 8)

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Benchmark Brent crude futures ended the session 53 cents lower at $55.36

Oil edges lower

Benchmark Brent crude futures ended the session 53 cents lower at $55.36 while U.S. West Texas Intermediate (WTI) crude futures settled down 53 cents at $52.65 a barrel.
Fighting in Libya has cut oil output, but state oil company National Oil Corporation has reopened at least one field.
Volumes were thin, with about 152,000 Brent futures contracts and about 296,000 WTI contracts changing hands, less than half of Thursday’s trading volumes.
Many analysts remained positive on oil prices.
Robert Yawger, director of energy futures at Mizuho Americas said market conditions encouraged profit taking.

collected by :Jack Alex

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