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Crude Drops to Six-Week Low on Waning Syria Concern

West Texas Intermediate crude fell to a six-week low on easing concern that Syria’s conflict will disrupt supplies and on rising production in Nigeria and Libya.

Crude dropped 1.1 percent as the United Nations Security Council worked toward a resolution based on the Geneva accord between the U.S. and Russia. The Organization for the Prohibition of Chemical Weapons said Sept. 20 it received an initial disclosure from Syria. Nigeria restored flows from three trunk pipelines that were sabotaged by vandalism and theft. WTI also slid on concern wrangling over spending may shut the U.S. government.