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Record fall

Oil falls, heading for biggest monthly slide since 2008

LONDON: Oil fell on Thursday, bringing losses for the month so far to 23 percent, marking its largest one-month fall since the depths of the financial crisis in 2008. A seemingly relentless rise in U.S. crude supply, together with Saudi Arabia‚Äôs insistence that it will not cut output on its own to stabilize the market, wiped out overnight gains in oil futures. Brent crude futures LCOc1 fell 64 cents on the day to $58.12 a barrel, off an earlier session high of $59.51, while U.S. crude futures CLc1 dropped below $50 for…