US crude oil prices fall by more than $7 a barrel
US benchmark West Texas Intermediate for delivery in January closed at $66.15 a barrel, down $7.54 from the closing price Wednesday.
Energy-related stocks also hammered Friday, leaving US stocks mostly flat in a holiday-shortened session, after OPEC decided not to cut production in response to lower crude prices.
The Dow Jones Industrial Average closed up 0.49 point, barely creeping to a new record high at 17,828.24.
Earlier in November, oil prices had plunged with the Brent hitting a four-year low after Saudi Arabia slashed its export prices for the US market to counter demand for shale fuels.
Brent North Sea crude for delivery in December slumped $2.37 to stand at $82.41 a barrel in late London deals. It had earlier hit a four-year low point at $82.08.
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