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Oil fell to around $69 a barrel Monday, reversing an earlier rally, as a rise in Russian production and concern about a U.S.-China trade spat offset a drop in U.S. drilling activity. U.S. drillers cut seven oil rigs in the week to March 29, bringing the total down to 797, the first decline in three weeks. Brent crude LCOc1, the international benchmark, fell 56 cents to $68.78 a barrel by 13:58 GMT, having rallied to $70.04 earlier. U.S. President Donald Trump has threatened to pull out of a 2015 international nuclear deal with Tehran under which Iranian oil exports have risen.
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