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Commodities slump to 16-year low
Shares in miners and explorers also plunge while Brent crude falls below US$45 for the first time since 2009
Add BT as a preferred sourcePublished Mon, Aug 24, 2015 · 09:50 PM
Kuala Lumpur
COMMODITIES sank to the lowest level in 16 years and shares in resources companies joined a global equity slump on concern China's economic slowdown will exacerbate gluts of everything from oil to metals.
The Bloomberg Commodity Index of 22 raw materials lost as much 1.8 per cent to 86.2645 points, the lowest level since August 1999. Shares in miners and explorers from Glencore plc to BHP Billiton Ltd and Cnooc Ltd tumbled while Brent crude fell below US$45 a barrel for the first time since 2009.
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