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Oil slips towards $81

LONDON - Oil prices slipped a little today, after hitting a succession of record highs this week which were fuelled in part by oil company production shutdowns in the Gulf of Mexico because of a storm threat, according to Reuters.

U.S. crude for November delivery fell 18 cents to $81.60 a barrel by 7:30 a.m. EDT. The October U.S. crude oil contract expired on Thursday after it hit a record for the seventh-straight session at $84.10.

Posted by Peter C. T. Elsworth  at 9:11 AM to Crude oil market | Permalink

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