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US stocks ease pricing fears

WORLD oil prices plummeted this week, falling to below US$47 per barrel, on speculation that record inventories in the US - boosted by increasing OPEC production - would be sufficient to meet the peak northern summer demand in the world’s largest energy consumer.

US stocks ease pricing fears

Prices plunged almost 10% in seven sessions on the New York Mercantile Exchange, with US light sweet crude for June delivery down to US$46.92 per barrel on Thursday, the lowest settlement since 9 February....

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