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Brent crude futures gained 70¢ to stand at $106 this morning, after plunging to its lowest level in nearly three months in the previous session.

Crude prices were also weighed down by the OPEC meeting, which did not announce a mechanism to quickly trim production in case oil demand is slower than expected.

US crude stood 25¢ higher at $95.20, reports Reuters.

Asian shares and base metals fell, while the euro nursed losses after plummeting to its lowest level in 11 months following a surge in Italy’s borrowing costs.

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By GlobalData