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Oil prices set for worst daily drop since April on inventories, bearish Fed – Arabnews

LONDON: Oil prices slumped on Thursday, dragged down by another record build-up in US crude inventories and the US Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year. Brent crude futures erased Wednesday’s gains, falling 6.6%, or $2.74, to $38.99 a barrel by 1…

  1. Oil prices set for worst daily drop since April on inventories, bearish Fed