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Sept. 28, 2021, 2:39 p.m. EDT

Oil futures suffer first decline in 6 sessions

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By Myra P. Saefong

Oil futures eased back on Tuesday to post their first loss in six sessions, a day after settling at their highest price in almost three years. "Oil prices have finally responded to the ongoing risk-off sentiment observed in the stock and [foreign exchange] markets, with technology shares tanking" and the U.S. dollar surging against commodity dollars, emerging market currencies and the pound, said Fawad Razaqzada, market analyst at ThinkMarkets. West Texas Intermediate crude for November delivery fell 16 cents, or 0.2%, to settle at $75.29 a barrel on the New York Mercantile Exchange. Prices, based on the front-month contracts, finished at $75.45 on Monday, their highest since October 2018, according to Dow Jones Market Data.

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