Mumbai : The news of interest rate adjustments by China to cool its economy, and of surplus stocks with the US, continues to nudge crude prices down from a record high earlier in the week. For the third day in a row, the price of crude continued to decline. With production showing signs of stabilising in the Gulf of Mexico, sweet, crude light prices are expected to come down further to $50 per barrel. Prices for deliveries in December were quoted at $50.51, down from $50.92 on the New York Mercantile Exchange.
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