August 24, 2015 5:31 PM

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Oil prices fall more than 4%; hits fresh 6-1/2-year low

Global crude oil prices fell more than 4 percent, to fresh 6-1/2-year lows, today, after Chinese stock markets suffered their biggest one-day drop since the global financial crisis, intensifying worries over the outlook for global oil demand. Brent crude oil futures dropped to 43.28 dollars a barrel–its weakest since March 2009. U.S. light crude fell as low as 38.69 dollars a barrel. U.S. crude is now more than 17 percent this month, while Brent is down more than 10 percent.

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