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Oil drops 5 percent on slumping demand

2:15 PM Mon, Nov 03, 2008 |
Peter C. T. Elsworth    Email

NEW YORK - Oil fell over 5 percent on Monday as further indicators of falling global demand linked to a potential recession offset OPEC plans to reign in output, according to Reuters.

U.S. crude fell $3.65 to $64.16 a barrel by 12.57 p.m.

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 Tags  Oil prices


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