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OIL PRICES DECLINE ON WORLD MARKETS

Oil prices declined Friday on world oil markets, ending a week of quiet trading.

"Friday was the culmination of a fairly quiet week due to the fact that a lot of traders are waiting for the U.N.'s responses to Iraq and Libya," said Jerry Samuels, managing director at ARB Oil Inc.The U.N. Security Council is faced with two unrelated decisions: to lift sanctions against Iraq and to impose sanctions against Libya, both members of the Organization of Petroleum Exporting Countries.