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By Barani Krishnan NEW YORK (Reuters) - Oil prices hit $50 a barrel on Thursday for the first time in seven months, then bounced below that level and settled lower on the day as investors worried robust price gains could encourage more output and add to the global glut. Wildfires in Canada's oil sands, unrest in the Nigerian and Libyan energy sectors, and a near economic meltdown in OPEC member Venezuela have knocked out nearly 4 million barrels per day in immediate production, sparking a buying frenzy in crude futures. Brent and U.S. crude's West Texas Intermediate (WTI) futures have risen nearly 90 percent from 12-year lows hit this winter.
WACO, Texas (AP) — The Latest on Baylor University's demotion of its president and firing of its football coach amid criticism of the school's handling of sexual assault complaints involving players (all times local):