Oil prices settled lower Tuesday, giving up their highest levels in about three years as the market took a break from a rally that lifted prices for five-consecutive sessions through Friday. Analysts generally expect the Energy Information Administration to report a decline in U.S. crude supplies, but the agency’s report won’t be released until Thursday, a day later than usual because of Monday’s Martin Luther King Jr. holiday. February West Texas Intermediate crude fell 57 cents, or 0.9%, to settle at $63.73 a barrel on the New York Mercantile Exchange.
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