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Oil plunges below $29 on prospects of more Iranian crude, China worries
January 15, 2016 by elegant · Leave a Comment
World oil prices slumped more than 6 percent to below $29 a barrel on Friday, as a further fall in the Chinese stock market and the prospect of an imminent rise in Iran's crude exports deepened fears of a longer supply glut. The slump was not over yet, some analysts warned, as the lifting of sanctions on Iran opens the door to a wave of new oil. …
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Oil plunges below $29 on prospects of more Iranian crude, China worries