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Oil falls below $92 on high supplies

The price of oil fell 2 percent to its lowest level in a month after OPEC stuck to its current production despite ample crude.

U.S. crude oil futures fell $1.64 to close at $91.97 Friday in New York. Brent crude, a benchmark for pricing oil used by many U.S. refineries to make gasoline, fell $1.80 to close at $100.39 in London.

The average price in the U.S. slipped less than a penny to $3.61 per gallon. Prices rose 10 cents during May, or 3 percent, mainly due to refinery problems in the Midwest. Still, May prices averaged less this year than they did in either of the last two years.

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