Rising U.S. rig count knocks oil, but bullish support remains in place


By Amanda CooperLONDON (Reuters) - Oil fell on Monday after a rising rig count in the United States suggested the boom in shale output is showing no signs of slowing, but prices held near their highest in over three years and were set for a second straight month of gains.The prospect of the United States reimposing sanctions on Iran and OPEC's continued discipline in withholding output have kept the market well above $70 a barrel for most of this month.

Brent crude futures were down 84 cents on the day at $74.80 a barrel by 0808 GMT. The price.....

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