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Oil tumbles toward 11-year lows on worsening glut

LONDON Oil prices tumbled 4 percent on Monday, coming close to their 11-year low, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non-OPEC producers.
Oil Prices Pressured; WTI Dips Below $35 Before Paring Losses  
OPEC History Shows It Can Deal Even Bigger Blows to Oil Price