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Oil prices decline on oversupply concerns

Xinhua, April 17, 2017 Adjust font size:

Oil prices settled lower Monday as worries about a supply glut weighed on the market.

The West Texas Intermediate for May delivery decreased 0.53 U.S. dollar to settle at 52.65 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery fell 0.53 dollar to close at 55.36 dollars a barrel on the London ICE Futures Exchange. Endit