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Oil pauses; focus on future supply direction

Oil prices nudged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, with investors eyeing mixed signals on global supply.

Brent crude oil futures were at $71.44 a barrel at 0629 GMT, down 11 cents, or 0.2 percent, from their last close, having hit their highest since Nov. 12 on Friday at $71.87.

U.S. West Texas Intermediate (WTI) crude futures were at $63.63 per barrel, down 26 cents, or 0.4 percent, from their last settlement.

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