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19 April 2005

Oil prices fall to 8-week low

US oil prices have slipped to below $50 a barrel, an eight-week low, following global finance chiefs comments about the threat to growth. US oil dipped as low as $49.66 a barrel, down 82 cents, while London's Brent ERUde fell 39 cents to $51.22.

Growing US stockpiles have eased oil price pressures, but concerns remain about strong global demand.

Economic Research Unit
Franklin + Andrews

eru@franklinandrews.com

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