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Oil Drops as Deeper OPEC Discounts Signal Fight for Market Share

2014-12-09 11:01:55| Energy - Topix.net

Brent and West Texas Intermediate fell to a five-year low as Iraq followed Saudi Arabia in cutting prices for crude sales to Asia, adding to signs that OPEC's biggest members are defending market share. Futures dropped as much as 1.4 percent in London to the weakest intraday price since September 2009.

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