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Crude Oil Falls to Lowest Price in Nearly 7 Years

The price of crude oil fell more than $2 Monday to its lowest level since early 2009, with Brent crude closing a bit above $40 a barrel. The decline follows Friday's meeting of the Organization of Petroleum Exporting Countries, where the 13 members announced no agreement to limit production. Experts say global demand for crude is already about 2 million barrels a day below the current supply. That oversupply may grow as Iran gets out from under international sanctions imposed on...

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