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Oil prices fall more than 2%

Oil prices fell more than two per cent on Monday to the lowest in over a year as global stock markets tumbled under pressure from concerns about a U.S. government shutdown and worsening world economy.
 
West Texas Intermediate (WTI) for February settlement bottomed at $44.35 a barrel on the New York Mercantile Exchange, the lowest since August 2017. 
 
WTI was last down $1.20, at $44.40 a barrel.
 
Crude futures have fallen by more than 30 per cent so far this quarter to the lowest since the third quarter of 2017.


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