Oil Falls Below $65 As U.S. Output Soars

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Oil prices fell to their lowest in six weeks on Thursday after data showed U.S. crude output had reached record highs and the North Sea’s largest crude pipeline reopened following an outage.

A stronger dollar, on track for its biggest weekly rise since November 2016, was adding pressure by making it more profitable for holders of other currencies to sell dollar-denominated assets such as oil.

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{Matzav.com}

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