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Oil prices hit six-month low

Oil prices were down more than half a per cent after hitting a six-month low on Thursday, remaining under pressure from high global inventories and fears that OPEC's agreed production cuts cannot offset rising production elsewhere.
     
Brent crude touched a low of $46.70 a barrel, the weakest since May 5 and just above six-month lows, before recovering to $46.92.
     
U.S. crude was down 21 cents at $44.52, after earlier touching a six-month low of $44.32 a barrel.


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