Oil Prices Dip

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Oil prices fell below $72 a barrel Wednesday on expectations that weekly U.S. petroleum supply data due Thursday would show across-the-board gains. Signals that OPEC would keep production steady Thursday at its ministerial meeting in Caracas, Venezuela, also calmed markets.


By midday in Europe, light, sweet crude for July delivery fell 66 cents to $71.37 a barrel in electronic trading on the New York Mercantile Exchange. It had closed Tuesday at $72.03 after climbing as high as $72.75. Brent crude was selling at $70.73 on London’s ICE futures market, down 32 cents






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