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Actionable news in SGY: STONE ENERGY CORPORATION,

Oil prices fall on profit-taking, oversupply worries

Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, January 25, 2016.

Oil futures fell in Asian trade on Wednesday as profit-taking and concern over a larger-than-expected build in U.S. crude stocks outweighed a report that Russia and Saudi Arabia had reached consensus on an oil output cap.

Brent crude LCOc1 had dropped 27 cents to $44.42 a barrel as of 0207 GMT, after hitting a four-month high in the previous session, when it settled up $1.86, or 4.3 percent.

U.S. crude CLc1 dropped 37 cents to $41.80 a barrel after settling up $1.81, or 4.48 percent, the day before.

A firmer U.S. dollar .DXY, which makes dollar-denominated commodities more expensive for holders of other currencies, also pressured prices.

"There are two things. There has been a fantastic rise in prices so I think in the...


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