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Oil Falls Below $64 a Barrel
Oil fell to a five-week low below $64 a barrel Monday on concerns that global economic recovery will slow, hurting fuel demand, Bloomberg reported.
Crude futures fell to $63.87 a barrel on the New York Mercantile Exchange from Thursday’s $66.73 closing price, Bloomberg said. Markets were closed Friday for Independence Day.
The Energy Department will release its weekly report on retail diesel and gasoline prices Monday afternoon in Washington.