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. Last Updated: 07/27/2016

Saudis Leak, Oil Fades




LONDON -- Oil prices tracked sideways Monday after slumping last week amid evidence that Saudi Arabia was leaking more exports.


Fast fading from summer highs, traders said prices could quickly fall towards the $25 a barrel target that would satisfy both Saudi and the United States, Riyadh's main Western ally and buyer.


London Brent blend futures gained 2 cents in morning business to $27.54 a barrel and U.S. light crude in electronic trade was up 1 cent at $28.55.


Brent lost $2.35, or 8 percent, last week after industry sources familiar with Saudi policy said they would pump another 250,000 barrels daily this month and in August.