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NEW YORK — Oil prices fell to near $60 a barrel Thursday, their lowest point in about a year and a half, as a growing number of economic reports point to a long and painful recession.
Light, sweet crude for December delivery fell 7 percent, or $4.53, to settle at $60.77 a barrel on the New York Mercantile Exchange. Prices tumbled as low as $60.16 at one point, a level last seen in March 2007.
