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Oil Fell $2 on Continued Profit-taking
Oil fell nearly $2 to below $80 a barrel yesterday on continued profit-taking from last week's record high
Oil fell nearly $2 to below $80 a barrel yesterday on continued profit-taking from last week's record high, as more output was restored in the Gulf of Mexico following shutdowns triggered last week by a storm.
US crude for November fell $1.80 to $79.15 a barrel by 1.45pm GMT, adding to Monday's 67-cent loss to bring it nearly $5 below the record $83.90 set by the October contract last Thursday.
London Brent crude shed $1.57 to $77.34 a barrel.
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