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Oil Prices Fall on Profit Taking

Oil prices dropped to extend the previous session's decline Monday when concerns faded about storms affecting oil rigs, refineries and pipelines in the Gulf of Mexico, according to the Associated Press.

Light, sweet crude for October delivery lost 70 cents to $78.40 a barrel in electronic trading on the New York Mercantile Exchange midday in Europe.

Posted by Peter C. T. Elsworth  at 9:35 AM to Crude oil market | Permalink

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