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Tag Archives: 5-1/2yrs

Crude oil plunges 5-1/2yrs low to $57 per barrel


LONDON: Crude oil fell to a new 5-1/2-year low near $57 per barrel on Tuesday, following persistent fears about a global supply surplus counteract concerns about production disturbance in Libya. Forecasts for a 900,000-barrel draw in oil stocks last week in top consumer the United States, however, checked further losses. A draw would follow a rise to the highest recorded ... Read More »