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Oil Price Declines for Third Day
Crude oil futures fell for a third straight day Tuesday, slipping briefly below $100 a barrel before closing at $100.98 on the New York Mercantile Exchange, Bloomberg reported.
Oil has not closed at less than $100 a barrel on the Nymex since March 4, the only day last month it closed below that level, according to Bloomberg.
Monday’s closing price was $101.58, while crude set a two-week high on Thursday, closing at $107.58 a barrel.
Oil set a record closing price of $110.33 a barrel on March 13, while the intraday record high of $11.80 was set on March 17, Bloomberg said.
Some analysts said oil-supply data from last week will show an increase when the Department of Energy releases its weekly inventory report Wednesday, Bloomberg reported.
