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SINGAPORE (AP) - Oil prices dipped below $80 a barrel Thursday in Asia as the U.S. dollar strengthened.
Benchmark crude for December delivery was down 60 cents to $79.80 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added 80 cents to settle at $80.40 on Wednesday.
Crude has traded near $80 a barrel for the last few weeks as investors watch a volatile dollar and mixed signs on the strength of the U.S. economy. Oil has jumped from $32 in December as traders have used crude and other commodities as a hedge against a weakening dollar and inflation.
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