Oil prices held near two-month lows on Monday amid worries that a global crude and refined product glut would weigh on markets for some time to come.

International Brent crude oil futures were trading at $45.59 per barrel at 0424 GMT, down 10 cents from their previous close. U.S. West Texas Intermediate (WTI) crude was at $44.09, also down 10 cents a barrel.

Both benchmarks were close to two-month lows reached last week.

Traders said that ongoing oversupply and growing economic headwinds were weighing on oil.

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