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Stock markets tumble as oil sinks to seven-year low

Discussion in 'Market News' started by Lily, Dec 11, 2015.

  1. Lily

    Lily Forum Member

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    Benchmark Brent crude falls below $38 a barrel, dragging FTSE 100 index and Dow Jones lower

    The City was left nursing its losses after a week of turmoil in commodity and stock markets that wiped £73bn off the value of UK shares.

    Oil prices were in freefall on Friday, a fresh day of turbulence that followed a forecast from the International Energy Agency (IEA) that a glut of crude will persist for another year. Crude prices continued falling in New York after London’s FTSE 100 closed 135.27 points down at 5,952.78 – its lowest level since late September.

    Related: Markets tumble as oil falls; IMF chief Lagarde highlights Brexit risk -as it happened

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