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Oil prices extend falls as economic slowdown worries weigh on markets

Updated : January 23, 2019 08:16 AM IST

US West Texas Intermediate (WTI) crude futures were at $52.74 per barrel at 0024 GMT, down 27 cents, or 0.5 percent from their last settlement.
The decline followed a 2 percent fall in crude oil futures and a slump in global financial markets on Tuesday as concerns over global growth spooked investors into looking for safe-haven assets like government bonds or gold.
A global economic downturn is widely expected to also dent fuel demand growth, weighing on energy prices.
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