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Oil prices plumb lows amid poor growth outlook

The markets are starting to feel the effects of a supply glut again, says a trader.


WORLD oil prices hit the lowest levels for almost 2.5 months last week as a poor global growth outlook added to concerns over a long-running supply glut.

US benchmark West Texas Intermediate (WTI) struck US$43.69 a barrel on Wednesday - the lowest level since May 10.