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Oil prices shed nearly 8% over the past two days and posted their third straight monthly decline, signs that recession worries are upstaging concerns over dwindling supplies of crude at home and abroad.
Benchmark U.S. oil futures ended Wednesday at $89.55 a barrel, down from Monday’s closing price of $97.01. Brent crude, the main international price, fell 12% in August to $96.49 a barrel.
