Oil Prices Inch Higher

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Oil futures clawed back some of last week’s heavy losses Monday, but trimmed earlier gains as the dollar gathered strength.

The front-month March contract on the New York Mercantile Exchange was recently six cents higher at $71.25 a barrel after earlier hitting $72.08 a barrel. The front-month March Brent contract on London's ICE futures exchange was 11 cents higher at $69.70 a barrel.

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