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Wednesday, August 12, 2015

Crude oil News Story Updates

Crude oil News Story

Crude oil prices fell again on Wednesday as China allowed its currency to fall sharply for a second day, triggering concerns over the country's economic health just as oil production hit multi-year highs. A lower yuan erodes Chinese purchasing power for dollar-denominated imports like oil, potentially hitting fuel demand. The Chinese yuan continues to weaken for the second day which could suggest further weakening of oil prices, Singapore-based brokerage Phillip Futures said on Wednesday.

More Updates about:- Crude Oil Tips

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