Oil prices start week on a low after recent rally

HONG KONG - Oil prices dipped Monday after enjoying another strong rally last week, with news of a jump in Iraqi exports bringing supply glut fears back to the fore. The commodity has surged for four weeks thanks to a weaker dollar, small indications that the global economy -- particularly China -- is showing signs of a mild recovery and various disruptions to output including a strike in Kuwait. However, analysts warned that the gains would be limited owing to still weak demand, the long-running glut and the temporary nature of the disruptions.

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