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Oil falls 2.5 percent as equity markets drop, inventories climb

Credit: Reuters- Published on October 11, 2018
Oil prices slumped to more than two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by a bigger-than-expected U.S. crude inventories build.
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Credit: Wochit Business
Published on October 11, 2018 -  01:03
Oil Drops 2.5 Percent As Equity Markets Fall
According to Reuters, Oil prices slumped to more than two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by U.S. government data that showed domestic crude inventories rose more than expected last week. Brent crude LCOc1 futures fell $2.08, or 2.5 percent, to $81.01 a barrel, by 11:22 a.m. EDT (1522 GMT). The contra posted a session low of $80.69, its weakest since Sept. 24.

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