Oil prices down 1% as demand fears rise, Mideast tensions ease
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NEW YORK (Reuters) - Oil prices fell about 1% on Monday as crude demand concerns resurfaced and the possibility of an imminent conflict between the United States and Iran began to fade. Benchmark Brent crude was down 89 cents, or 1.4%, to $64.31 a barrel at 11:29 a.m. EDT (1529 GMT), while U.S. crude shed 44 cents, or 0.8%, to $56.99 a barrel.Last week, Brent climbed 5% and U.S. crude surged 10% after Iran shot down a U.S. drone on Thursday in the Gulf. This added to tensions stoked by attacks..