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Oil prices fall to more than 1% amid falling global markets

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rocky
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Oil prices fall to more than 1% amid falling global markets

Post by rocky on Tue 06 Feb 2018, 3:25 am

Oil prices fall to more than 1% amid falling global markets
February 06 2018 11:33 p

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Oil prices fell more than 1 percent on Tuesday to continue their slide in the previous session as global financial markets plummeted following one of Wall Street's biggest losses in trading. 

Brent crude for the month was $ 66.91 a barrel, down 71 cents, or 1.1 percent, from the previous settlement. The price falls below $ 4 from the 2018 highest level recorded last month. 

US WTI crude futures were $ 63.46 a barrel, down 69 cents, or 1.1 percent, from the previous settlement and down more than $ 3 from the highest level since the beginning of 2018. 

Financial markets fell on Monday after a sharp rise in US bond yields raised concern about the rise Inflation and the possibility of raising interest rates.

The Dow Jones industrial average lost 4.6 percent yesterday, its biggest percentage loss since August 2011, and its 1175-point drop was the biggest drop ever. The index fell more than 6 percent briefly.



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