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"Lackluster macroeconomic conditions, easing global tensions and bearish fundamentals have started to weigh on oil prices," Morgan Stanley said in a report. Oil traders often look to global equities as a measure of overall investor sentiment, and stock markets in Asia were down sharply Monday. In other energy trading, heating oil was down 1.6 cents at $2.99 per gallon and gasoline futures fell 1.1 cents to $2.97 per gallon. Natural gas was up 2.8 cents at $2.31 per 1,000 cubic feet.
[Associated
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