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Oil down to USD48.85
- Thursday, January 27 - 2005 at 07:35
Oil prices fell sharply yesterday after the US government reported a large rise in domestic crude inventories. Light crude fell 79 cents to USD48.85 per barrel, while London Brent fell 51 cents to USD46.65. Opec meets on January 30 to discuss production quotas for the next quarter.
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