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‘A Glut For the Ages’ Again Capital’s Kilduff Tells CNBC

NEW YORK (TheStreet) -- For more than two years oil prices have been tumbling due to an excess of supply around the world. Recently key players in the industry have pronounced that the supply glut is over, but those feelings are beginning to dissipate, Bloomberg reports.

Oil prices are trading lower on Friday morning, with crude oil (WTI) sliding by 0.83% and $40.80 per barrel and Brent crude down by 1.48% to $42.07 per barrel.