Rising U.S. rig count knocks oil, but prices remain near 3-year highs

By Amanda CooperLONDON (Reuters) - Oil fell on Monday after a rising rig count in the United States suggested the shale boom is showing no signs of slowing, but prices remain near their highest in more than three years and are 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 88 cents at $74.

76 a barrel by 1108 GMT. The price rose to $75.47.

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