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Urgent: Oil prices decline amid supply glut

Xinhua, January 8, 2016 Adjust font size:

Oil prices continued to fall Thursday as market expected the supply to surpass the demand.

The West Texas Intermediate for February delivery moved down 70 cents to settle at 33.27 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery decreased 48 cents to close at 33.75 dollars a barrel on the London ICE Futures Exchange. Enditem