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Crude Oil Again Dips Below $50 per Barrel

A strong U.S. dollar and Iran's plans to pour oil on an already glutted market sent U.S. crude below $50 per barrel on Tuesday. Cooling economies in oil-hungry Asia and Europe also have weakened demand, sending the price below $50 for the first time since April. With the U.S. Federal Reserve expected to raise interest rates later in the year “a firmer U.S. dollar makes crude more expensive for buyers using other currencies since crude is priced in the U.S. dollar,” explained Victor...

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