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Oil prices plunge despite US rate cut

A DRAMATIC interest rate cut in the United States failed to dispel concerns that the key energy consuming country was headed towards a recession, with crude prices continuing to freefall across world markets.

Francine Pennington
Oil prices plunge despite US rate cut

While there was a slight recovery in Singapore’s Tapis price to $US92.95 on Wednesday, crude elsewhere continued slipping on further concerns that US inventories were growing even as the economy and fuel...

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