Oil prices fall as G-7 ministers call for more output

Oil   Oil
By The Associated Press on August 29, 2012

Crude prices slipped below $96 a barrel Wednesday after finance ministers from the world's leading industrialized economies called on oil producers to increase output and said they were ready to ask the International Energy Agency to release strategic reserves.

By early afternoon in Europe, benchmark oil for October delivery was down 74 cents to $95.59 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents to finish at $96.33 per barrel on the Nymex on Tuesday.

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oil prices
G-7 ministers
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