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MARKET WATCH: NYMEX crude for December drops by $1/bbl

The price of light, sweet crude oil for December delivery dropped $1 to settle under $61/bbl on the New York market Nov. 8 while Brent crude oil for January delivery dropped more than $1 to settle under $71/bbl. During Nov. 9 trading, Brent crude oil fell below $70/bbl for the first time in 7 months while US oil future prices fell below $60/bbl during intraday trading.

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