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Oil dropped more than $1 a barrel to around $74 on Monday as rising risk aversion weighed on stock markets and boosted the U.S. dollar, while more U.S. Gulf oil output came back online in the wake of two hurricanes.
Oil in New York surged by the most since April amid a broader market rebound after the longest stretch of declines in nearly two years.
The Offshore Technology Conference (OTC) is set to open for the first time since the Covid-19 pandemic began.