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Oil prices decline on rising U.S. production

Xinhua, January 19, 2017 Adjust font size:

Oil prices settled lower Wednesday as market expects U.S. producers to boost output.

The West Texas Intermediate for February Delivery erased 1.4 dollars to settle at 51.08 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery decreased 1.55 dollars to close at 53.92 dollars a barrel on the London ICE Futures Exchange. Endit