Oil falls to the lowest since January, nears $70. ...Middle East

It's a rough one for oil today with WTI crude oil down $3.03 to $70.52. That's the lowest since January 17 and perilously close to the $60s.The latest leg of selling came after a report on Friday that said OPEC+ is likely to proceed with a planned gradual production increase from October. The weekend China PMI at 49.1 compared to 49.5 expected is also weighing.Today, there has also been a report that a deal was imminent to resolve a dispute that has halted Libyan production and exports. There is also a deep round of risk aversion ongoing with the Nasdaq down nearly 2% and most global commodities suffering.Seasonally, September/October is a poor time of year for oil and it's certainly started

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