Oil below $70
Ap, New York
Oil prices fell below $70 a barrel on Friday, hitting a 10-week low, as Iran's defiance of the U.N. request to stop its nuclear enrichment program didn't lead to immediate sanctions.Also easing energy prices ahead of the long Labor Day weekend was a mixed U.S. jobs report, which suggested fuel demand probably won't surge sharply. Prices also responded to a more-subdued forecast for this year's hurricane season and plans from BP PLC to increase output at its huge oil field at Prudhoe Bay. Light, sweet crude for October delivery fell $1.07 to settle at $69.19 a barrel on the New York Mercantile Exchange its lowest settlement price since finishing at $68.94 on June 20.
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