Crude-oil futures on Tuesday settled at their lowest since Oct. 4 2011, extending their losing streak to a fourth day as the fallout from Saudi Arabia's decision to cut prices of its oil sold in the U.S. continued. Oil for December delivery , the front-month contract, finished at $77.19 a barrel, off $1.59, on the New York Mercantile Exchange. Futures traded as low as $75.84 a barrel. The Saudi's decision to cut prices was seen as a threat to U.S. domestic producers and as a sign OPEC would not cut down production to keep oil prices from falling further.
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