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NEW YORK (Dow Jones)--Crude futures settled lower Thursday, despite a late-afternoon surge on reports of protests in Saudi Arabia, the world's largest oil exporter.
After trading down more than 3.5% earlier in the session on weak economic data, light, sweet crude for April delivery pared losses as news trickled out of Saudi Arabia, settling $1.68, or 1.6%, lower at $102.70 a barrel on the New York Mercantile Exchange.
Brent crude on the ICE futures exchange settled down 51 cents to $115.43 a barrel after trading as low as $113.52.
To save ourselves from economic and financial disaster, a dramatic change in the conventional wisdom of economic policy by our leaders is essential. The numbers are growing, the people are becoming aware of the atrocity we face from the Federal Reserve. With a better understanding of the monetary policy, the better off we will be when the time comes to establish a new more tangibly backed currency. Then, prosperity will be gained.