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Oil prices continue to fall from five-year low

US production is at highest in more than three decades while the country's crude inventories are expected to stay at the highest level since June, contributing to a global glut
Wednesday, December 31, 2014 - 05:50

Singapore

OIL fell for a fourth day, extending losses from a five-year low amid speculation that US crude inventories will stay at the highest level since June, offering no relief from a global glut.

Futures dropped as much as 1.2 per cent in New York. Stockpiles in the US, the