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Oil Prices Fall Sharply Amid Saudi Talks - Barron's

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Oil Prices Fall Sharply Amid Saudi Talks

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Last Updated:
Sep. 28, 2023 at 7:33 PM EDT Live Coverage Feed

4 hours ago

U.S. crude futures reverse more than half of yesterday's 3.6% surge, falling by 2.1% to end at $91.71 a barrel.

Analysts say the retreat in prices and the rising volatility may suggest investors are wondering if periodic talks aimed at a landmark geopolitical, defense deal among the U.S., Saudi Arabia, and Israel might potentially also include an energy component that could send more Saudi crude to the US to drive down crude-oil and retail U.S. gasoline prices.

Investors are also reluctant to push prices too high ahead of Monday's monthly U..S manufacturing report from ISM that may see an 11th straight month of contraction.

Brent also falls, ending near $95.

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