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Latest Business News

Oil prices tumble as Europe and the US shed jobs

Thursday, July 02, 2009 1:20:17 PM
By CHRIS KAHN

NEW YORK (AP) - Oil prices tumbled to their lowest level in a month Thursday following the release of woeful job numbers in Europe and the U.S.

Benchmark crude for August delivery fell $2.58, nearly 4 percent, to settle at $66.73 a barrel on the New York Mercantile Exchange.

Crude hit an eight-month high in midday trading Tuesday, but prices have fallen at the close for five straight days now.


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