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Oil prices sink to five-month low

WORLD oil prices have plummeted to their lowest levels in five months, amid news of a giant oil discovery in the Gulf of Mexico and easing tensions in the Middle East.

Francine Pennington

London’s Brent price experienced the biggest drop to $US66.54 a barrel on Thursday, while New York’s West Texas Intermediate price was not far behind at $67.37/bbl. Although the Asia-Pacific’s Tapis...

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