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Bloomberg reports that Oil plunged over concern about a slump in Chinese imports and rising unemployment in the U.S.
Bloomberg reports that Oil plunged over concern about a slump in Chinese imports and rising unemployment in the U.S.
The market news is quoted as saying:
Crude for August delivery on the New York Mercantile Exchange fell as much as $1.88 to $94.32 a barrel, the lowest since July 5, and was at $94.62 at 1:56 p.m.