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Oil prices little changed, coronavirus, floods threaten demand

Money managers cut net long U.S. crude futures last week - CFTC Oil market deficit set to last but virus clouds demand LONDON, July 26 (Reuters) - Oil prices fell on Monday due to concerns over fuel demand caused by the spread of COVID-19 variants and as changes to import rules in China offset expectations of tight supplies through the rest of the year. Brent crude futures for September fell 35 cents, or 0.4%, to $73.75 a barrel by 1100 GMT while U.S. Texas Intermediate crude was at $71.63 a barrel, down 44 cents or 0.6%. Both benchmarks slipped over $1 a barrel in earlier trading. Coronavirus cases continued to rise over the weekend with some countries reporting record daily increases and extending lockdown measures that could slow oil demand. China, the world s largest crude importer, has also seen a rise in COVID-19 cases.

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