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Oil prices flat in quiet trading, US drilling activity concerns investors

Oil prices were relatively flat on Monday as trading in the United States, Britain and China was subdued as the three nations each celebrated public holidays.

Despite the calm, markets remain restless on uncertainty about whether the impact of the OPEC supply cut on the global crude glut would be enough to support prices.

Brent crude futures ended the session up 14 cents to $52.29/barrel and US WTI crude futures were up 19 cents to $49.99/barrel.

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