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14 January 2019

Oil drops nearly 2 percent, breaking 9-day win streak amid global growth concern

Oil prices have fallen by almost one per cent today, with Brent crude slipping below sixty dollars per barrel.

This followed a Chinese data, showing weakening imports and exports in the world’s biggest trading nation and second-largest crude oil consumer.

China’s December overall exports fell by four point four per cent from a year earlier, the biggest monthly drop in two years, official data showed, pointing to further weakening in the world’s second-largest economy.

Imports last month also contracted, falling seven point six per cent, the biggest decline since July, twenty-sixteen.

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