Crude oil futures prices closed lower, capping...
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Crude oil futures prices closed lower, capping a week-long decline amid market worries that OPEC will increase its production, thereby encouraging cheaper prices in a market already saturated with abundant supplies. On the New York Mercantile Exchange, contracts for December delivery of West Texas Intermediate, the benchmark U.S. crude, closed at $18.80 per 42-gallon barrel. That was down 18 cents from Thursday and $1.05 lower than the previous Friday’s close.
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