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Oil prices today dropped below $77 a barrel ahead of the US Thanksgiving holiday, due to a 1% fall in equities. Liquidation of positions in the last minute before the weekend also triggered a drop in oil prices, according to Reuters. For January delivery, US crude oil fell by
Oil prices today dropped below $77 a barrel ahead of the US Thanksgiving holiday, due to a 1% fall in equities.
Liquidation of positions in the last minute before the weekend also triggered a drop in oil prices, according to Reuters.
For January delivery, US crude oil fell by 98 cents to $76.98 a barrel at 8:07am GMT, while London Brent crude dropped by 77 cents to $77.67.
Oil prices have more than doubled compared with the $33 price last December, but current prices still remain 47% less than the $147 record price posted in July 2008.
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