Benchmark crude for April delivery has fallen by more than a dollar to US$$43.7 on the Nymex, and Brent prices settled at US$45.19 on the ICE Futures exchange in London. This fall has been triggered aas hopes for a quick end to the global slump have been dashed on fresh news of dismal US economic news and the possibility of a US$30 bln bailout of ailing insurer American International Group Inc.
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Tuesday, March 03, 2009
Oil dips on bleak news of US economy and massive bailout of ailing insurer AIG
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