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Oil price falls below US$63 to 5-year low

Published Fri, Dec 12, 2014 · 09:50 PM

London

OIL's rout extended on Friday, with Brent crude slipping towards US$62 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and weak demand outlook.

Brent is down more than 9 per cent this week, some 45 per cent below its June peak above US$115 per barrel.

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