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    market news

    South Sudan Says Sudan Poses New Obstacle For Oil Sales

    Investing News Network
    Nov. 26, 2012 10:09AM PST
    Resource Investing News

    Sudan has put a new hurdle in the way of allowing its land-locked southern neighbor to pipe its oil to the Red Sea, South Sudanese President Salva Kiir stated on Monday, dashing plans to revive production after an 11-month break.

    Sudan has put a new hurdle in the way of allowing its land-locked southern neighbor to pipe its oil to the Red Sea, South Sudanese President Salva Kiir stated on Monday, dashing plans to revive production after an 11-month break.

    Highlights from market news:

    – Sudan’s currency fell to a historic low against the dollar on the black market on Monday

    – South Sudan shut down its entire oil output of 350,000 barrels a day after tensions with Sudan over oil fees escalated

    – Any delay in restarting oil exports would be a serious blow to both crumbling economies

    Click here to read full CNBC article.

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