The average U.S. gasoline price fell to approximately $3.98 per gallon on November 10, marking the first time it has been below $4 since July. The decline was helped by lower wholesale oil prices, with Brent crude below $90 per barrel and West Texas Intermediate near $85. Prediction markets now see a reduced chance that crude oil will reach a new record high by December 31, with the odds estimated at 5.5%, down from 6% a day earlier and 12% a week ago. Upcoming OPEC meetings, geopolitical developments in oil-producing regions and shifts in consumer demand remain key factors to monitor.
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