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CHEAP OIL

U.S. West Texas Intermediate (WTI) crude was down $2.06 at $31.10 per barrel by 1:20 p.m. EDT (1820 GMT), having briefly dipped below $31 to the lowest level since December 2003. Brent crude futures were down by $2.15 at $31.40 a barrel, after falling to the lowest level since April 2004.

 


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