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Urgent: Oil prices drop as Iran raises output

Xinhua, March 15, 2016 Adjust font size:

Oil prices dropped Monday as Iran planned to increase its production to the level before the sanction.

The West Texas Intermediate for April delivery moved down 1.32 U.S. dollars to settle at 37.18 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery decreased 86 cents to close at 39.53 dollars a barrel on the London ICE Futures Exchange. Enditem