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Oil Prices Drop Below $90 a Barrel

Oil prices fell Friday on expectations that OPEC will increase output next week and on fading concerns of a supply disruption from a U.S. pipeline fire, according to the Associated Press.

Light, sweet crude for January delivery fell $1.55 to $89.46 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. On Thursday, the crude contract gained 39 cents to settle at $91.01 a barrel in choppy trade.

Posted by Peter C. T. Elsworth  at 9:27 AM to Crude oil market | Permalink

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