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FTSE 100 falls as oil shares dive

City traders

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(Open): Falling oil prices weighed on the London market as trading got under way for the week.

The FTSE 100 index was down 41.36 points, or 0.65%, at 6,302.39, with shares in oil companies among the biggest fallers.

Shares in BP dropped 2.4% and Royal Dutch Shell fell 3% after oil producers failed to agree an output freeze at their meeting at the weekend.

The price of Brent crude was down nearly $2, or 4.6%, at $41.13 a barrel.

Other commodity-related shares were also down, In the mining sector, Antofagasta fell 3.1% and Anglo American dropped 2.9%.

On the currency markets, the pound fell 0.3% against the dollar to $1.4162, and dropped 0.5% against the euro to €1.2532.

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