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Oil prices rise after year's biggest drop

By The Associated Press Published: November 9, 2012

Oil prices rose above $85 per barrel on Thursday as postelection volatility continued.

Crude oil rose 65 cents to close at $85.09 on the New York Mercantile Exchange. That followed a decline of 5 percent on Wednesday, when traders were spooked by worries about budget negotiations in the U.S. Analysts also say that oil supplies and production are high, which tends to drive down prices.

Oil analyst Jim...
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