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U.S. oil benchmark settles at a nearly 2-week low

Myra P. Saefong

The U.S. oil benchmark fell on Wednesday to settle at its lowest in nearly two weeks. Some traders played down the likely impact of Hurricane Michael on oil and natural-gas production in the Gulf of Mexico region. Oil prices may have also been dragged down as a risk-off sentiment fueled sharp losses in the stock market. November West Texas Intermediate oil fell by $1.79, or 2.4%, to settle at $73.17 a barrel on the New York Mercantile Exchange.