After a recent drop in global stock market, crude oil prices in US reduced by 6%, as traders worry about the warning of a fresh recession that could crash energy demand. The price drops came after Morrgan Stanley issued a report that said the US and Europe are treacherously close to recession and that growth in the big emerging economies would be slower than it was expected earlier.
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Monday, August 22, 2011
6% loss on US crude oil prices due to the fear of recession
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