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Oil prices went down on Friday and was ready for its biggest monthly decline since November. Meanwhile, the US crude inventories are back on track and trade conflicts are spreading. WTI went down by 0.9% and was traded at $56.08 per barrel. Brent slipped by 0.9% and was traded at $66.28 a barrel. However, Saudi Arabia increased its production in May but still could not compensate for lower Iranian exports.