Crude Oil Ends Below $60 as Volatility Sinks
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Crude oil ended below $60 a barrel as near-record U.S. production prolonged an oversupply amid the lowest trading volatility in eight months.
U.S. crude stockpiles remain 84 million barrels above the five-year average for this time of the year. The nation pumped near the fastest pace in more than three decades even as the rig count dropped. A measure of future price fluctuations slipped to the lowest level since October.