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Oil nears a bear market

The U.S. Energy Information Administration yesterday reported that U.S. crude oil production climbed to a record 11.6 million barrels a day in the week ended November 2 and inventories at the Cushing, Oklahoma hub rose by 5.78 million barrels on the week. U.S. benchmark West Texas Intermediate was off 1.33% as of 1:30 p.m. New […]

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