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NEW YORK, Nov. 5 (Xinhuanet) -- Crude oil prices
rebounded Friday after declining over the past week as traders worried about
supply disruptions in Iraq and Nigeria.
On the New York Mercantile Exchange, crude oil for December delivery rose 79 cents to settle at 49.61 dollars per barrel. Meanwhile, on London's International Petroleum
Exchange the December Brent crude-oil futures contract climbed 41 cents to close
at 46.42 dollars a barrel.
On Friday, saboteurs in Iraq set off an explosion
that damaged a gas pipeline in the country, while Nigerian oil workers decided
to join a general strike scheduled for November 16. These factors,combined with
the legal conflict between Yukos and Russian government, pushed oil prices
higher.
However, most analysts expected a downtrend in oil
prices for the next week because rising production and slowing demand growth
would boost inventories. Enditem
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