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US crude down $2 on higher Opec output

New York, May 3, 2012

Brent crude futures dropped below their 100-day moving average on Thursday, the first time front-month Brent has moved under that level since January, and US crude fell $2 as economic concerns and higher Opec production weighed on prices.

Brent June crude was down $1.60 at $116.60 a barrel at 10:15 a.m. EDT (1415 GMT), below the $117.34 100-day moving average, and having traded from $116.48 to $118.45.

US June crude was down $2.05 at $103.17 a barrel, having traded from $103.04 to $105.42. – Reuters




Tags: Brent | New York | US crude | Opec production |

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