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Urgent: Oil prices fall amid glut concerns

Xinhua, February 10, 2016 Adjust font size:

Oil prices retreated Tuesday as the prospects of a cut in production from oil producers seem elusive, adding to oversupply concerns.

The West Texas Intermediate for March delivery moved down 1.75 U.S. dollars to settle at 27.94 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery decreased 2.56 dollars to close at 30.32 dollars a barrel on the London ICE Futures Exchange. Endit