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This Week’s Market Buzz

•    West Texas Intermediate crude for November delivery 98 cents, or 1.8%, to settle at $52.64 a barrel on the New York Mercantile Exchange. December Brent, the global benchmark, declined by $1.20, or 2%, to $57.69 a barrel on ICE Futures Europe. Both crude benchmarks marked the lowest front-month contract settlements since Aug. 8, according to FactSet data.

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This Week’s Market Buzz

•    Oil prices have risen sharply, supported by supply risks brought about by last weekend’s drone attacks on Saudi oil infrastructure and a cut in U.S. interest rates. Brent crude futures gained $1.33 to $64.91 a barrel, while U.S. West Texas Intermediate crude was up 56 cents at $58.75 a barrel.

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This Week’s Market Buzz

  • West Texas Intermediate crude for October delivery fell by 5 cents, or 0.09%, to $56.08 a barrel at press time. The October contract for global benchmark Brent crude rose 41 cents, or 1%, to $60.64 a barrel on ICE Futures Europe.

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This Week’s Market Buzz

  • U.S. crude stockpiles rose by 400,000 barrels last week, while analysts had expected a fall. Benchmark Brent crude was up 1 cent at $60.71 a barrel at press time, while U.S. West Texas Intermediate crude fell 20 cents to $56.06.

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This Week’s Market Buzz

•    At press time, Brent crude October futures lost as much as 5.2% to $55.88 a barrel, and prices have decreased more than 20% since their year-to-date peak in April. Meanwhile, U.S. West Texas Intermediate crude futures also slid as much as 5.8% to $50.52 a barrel.

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