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Oil falls to multi-week lows on glut worry; petrol up on outages
Add BT as a preferred sourcePublished Sun, Sep 18, 2016 · 09:50 PM
New York
CRUDE oil prices fell 2 per cent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while petrol rallied on refinery and pipeline outages.
Falling US equity markets and a rising US dollar also weighed on crude futures and other commodities denominated in the greenback.
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