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July 18th, 2008
Posted: 03:14 PM ET
Crude oil falls as traders focus on thawing U.S. Iran relations. Light, sweet crude for August delivery fell 43 cents to $128.88 a barrel. Prices had been higher for most of the session on Friday, reaching as high as $132.04 a barrel. Friday’s settlement price of $128.88 is the lowest price seen since June 6. Last Friday, crude set an intraday high of $147.27. Since then, the price has slid by $18.39, or 12.5 percent. In the last four sessions the price has dropped $16.30 as investor fears over tight supplies eased a bit. |
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