Oil drops below $50 as US stockpiles rise

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Source: Bloomberg
Oil fell through $50 a barrel on speculation the US crude inventories are expanding, developing a global glut supply that was leading prices to the weakest level since 2009. Futures dropped 3.1% in New York. Oil lost as much as 50% in 2014, the biggest drop since the financial crisis in 2008, after the OPEC rejected cutting output.
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Tue, 06 Jan 2015 14:21:04 GMT

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