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2016-01-05 16:20:00

OIL PRICES DOWN $36.99

OIL PRICES DOWN $36.99

Oil prices fell on Tuesday on concerns about the pace of economic growth in China and a stronger U.S. dollar, handing back some of the gains triggered by an escalation of tensions in the Middle East.

Global benchmark Brent crude prices fell 23 cents to $36.99 a barrel at 0910 GMT. U.S. West Texas Intermediate (WTI) crude slipped 7 cents to $36.69 a barrel.

"It is the Chinese stock market sell-off and the strong dollar that are pressuring oil," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.

Chinese stock markets fell again…

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