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Intermediate dropped a second day as
fell as much as 1 percent and are headed for a second weekly decline. Libyan
output yesterday was more than five times higher than earlier this month,
according to its oil ministry.
output is set to increase to 800,000 barrels a day, Ibrahim Al Awami, director
of measurement at the oil ministry, said by phone from
will drop further next week after a U.S.-Russian accord reduced the risk of an
American attack on
WTI crude for October delivery, which expires today, fell 69 cents, or 0.6 percent, to $105.70 a barrel at 11:21 a.m. on the New York Mercantile Exchange. Prices are down 2.3 percent this week. The more-actively traded November contract dropped 47 cents, or 0.4 percent, to $105.39. The volume of all futures traded was about 19 percent below the 100-day average.
Brent oil for November settlement rose 46 cents, 0.4 percent, to $109.22 a barrel on the London-based ICE Futures Europe exchange. Futures are down 3.2 percent this week. Volume was 24 percent lower than the 100-day average. The European benchmark traded at a $3.99 premium to WTI, up from $2.90 at yesterday’s close.
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