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Futures Movers: Brent oil retreats after briefly topping $85 as WTI crude pares gains

Oil futures took a split path on Monday, with the global benchmark turning lower and the U.S. benchmark paring early gains after both touched multiyear highs on concerns over tight supplies.

The oil market is likely to see an increase in volatility because of the recent multiyear highs for prices, said Phil Flynn, senior market analyst at The Price Futures Group. However, “from the supply versus the demand side, all the news is bullish.”

Oil…

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