July 6, 2010 5:58 PM

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Oil falls in Asian trade

Oil prices fell to fresh one-month lows in Asian trade, today, shadowing equities markets, as weak US employment data continued to put a dampener on trader sentiment. New York's main contract, light sweet crude for delivery in August shed 80 cents, to 71.34 dollars a barrel. Brent North Sea crude for August delivery fell 52 cents, to 70.95 dollars a barrel.Oil prices had tumbled by more than eight per cent last week, as weak US economic data sparked fears about the strength of the global recovery.

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