Oil Prices Retreat As OPEC Meeting Gets Underway

By Sue ChangMarketsMarketWatch Pulse

Oil futures finished lower on Monday as investors remained skeptical over any viable results from an OPEC meeting to dicuss an agreement to limit crude oil production and stabilize prices. On the New York Mercantile Exchange, West Texas Intermediate for delivery in September slid 19 cents, or 0.4%, to settle at $49.39. Members of the Organization of the Petroleum Exporting Countries will wrap up their two-day meeting in Abu Dhabi, United Arab Emirates on Tuesday.

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