Oil Declines as June Contract Expires, Paring Weekly Rally

Updated on
  • WTI crude oil in New York climbs six of last seven weeks
  • Falling U.S. output, wildfires in Canada prompt weekly gain

U.S. Oil Output Continues to Decline

Oil fell as the expiration of the June contract in New York spurred selling by traders who don’t intend to take delivery of barrels next month.

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