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Oil prices decline on supply glut concerns

Xinhua, April 27, 2017 Adjust font size:

Oil prices settled lower Thursday as worries about a global supply glut continued to weigh on the market.

The West Texas Intermediate for June delivery fell 0.65 U.S. dollar to settle at 48.97 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery fell 0.38 dollar to close at 51.44 dollars a barrel on the London ICE Futures Exchange. Endit