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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Crude slides back below $50 mark

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LONDON: Global crude oil prices continue to fall on Thursday, with benchmark US prices falling below $50 a barrel, after a larger-than-expect gain in commercial crude stockpiles and a surging dollar. The price of Oman oil (May delivery) too declined by $1.65 to $52.74 at the Dubai Mercantile Exchange.


Crude oil stocks in the US surged last week to 528.4 million barrels, an all-time high and up 8.2 million barrels in


a week, well above forecasts of a


2 million barrel build.


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