File - In this May 9, 2012 photo, a drilling rig is seen near Kennedy, Texas. T (AP Photo/Eric Gay)
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Oil fell below $35 a barrel in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation that rising OPEC production will deepen the global glut.Futures fell as much as 3.1 percent to $34.53 a barrel in New York, the lowest since Feb. 18, 2009 . WTI for January delivery fell 15 cents, or 0.4 percent, to $35.47 a barrel at 10:05 a.m. on the New York Mercantile Exchange.Each contract corresponds to 1,000 barrels of oil.Brent for January settlement dropped 89 cents, or 2.4 percent, to $37.04 a barrel on the London-based ICE Futures Europe exchange.
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