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Nov 17, 2008

OIL NEWS * USA - Crude futures close at a 22-month low under $55 a barrel

San Francisco,CAL,USA -MarketWatch, by Myra P. Saefong -Nov 17, 2008: -- December crude fell $2.09, or 3.7%, to close at $54.95 per barrel Monday on the New York Mercantile Exchange, with prices reflecting weakness in the U.S stock market and ongoing concerns about global energy demand... "The bottom line is if we see a commanding recovery in the stocks, we should move higher" in oil, said Mark Waggoner, president of Excel Futures. "The flip side is we are entrenched in a bear market that shows no sign of bottoming as of yet"... (Photo by Bruce Harmon/Trans Pixs)

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