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US oil settles down 62 cents, or 1.39%, at $43.98 a barrel

October 26
18:56 2015

Crude prices edged lower on Monday, staying under pressure after two straight weeks of losses, on worries that the oversupply in oil products could swell from unseasonably warm weather and the waning maintenance cycle for U.S. refineries.

Influential Wall Street trading house Goldman Sachs warned of downside risk for oil prices through spring 2016 as U.S. and European storage utilization for distillates, which include diesel, neared historic highs.

Source, CNBC

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