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NEW YORK: Oil prices fell over two per cent on Monday as diplomatic efforts in the Middle East intensified in an attempt to contain the conflict between Israel and Hamas, easing investor concerns about potential supply disruptions.
Brent crude futures settled down $2.33, or 2.5pc, at $89.83 a barrel. US West Texas Intermediate crude futures were down $2.59, or 2.9pc, at $85.49 a barrel.