Oil Futures Continue to Fall
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Associated Press
NEW YORK — Oil futures prices continued falling in volatile trading today, dropping below $20 a barrel for the first time since 1979.
At noon on the New York Mercantile Exchange, a barrel of West Texas Intermediate crude, the benchmark U.S. grade, was selling at $19.85 for delivery in February, down $1.42 from Monday’s close of $21.27. Overabundance of supply, weak demand and market factors have all contributed to the decline, analysts said.
