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Intermediate crude fell for the fourth time in five days as
dropped as much as 0.5 percent. Output will rise following the reopening of two
oil fields, according to
WTI for October delivery, which expires tomorrow, slid 28 cents, or 0.3 percent, to $107.79 a barrel at 9:55 a.m. on the New York Mercantile Exchange. It surged 2.5 percent yesterday, the biggest increase since Aug. 27. The volume of all futures traded was 2.4 percent above the 100-day average. The more active November contract was down 39 cents at $106.89.
Brent for November settlement slid 81 cents, or 0.7 percent, to $109.79 a barrel on the London-based ICE Futures Europe exchange. Volume was 20 percent above 100-day average. The European benchmark crude was at a premium of $2.89 to WTI for the same month, down from yesterday’s $3.32.
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