Oil prices fall, but not for long
THE oil price fell by nearly $6 to $135.89 a barrel on Tuesday July 8th, the biggest drop in dollar terms this year (and the biggest fall in percentage terms since March). This third consecutive daily decline wiped 6.5% off the price as a stronger dollar and signs of a weakening world economy contributed to a retreat from commodities. But so far this year the oil price has not fallen for more than three consecutive days. And it looks set to stay that way, as the price rose in trading on Wednesday after a sabre-rattling missile launch by Iran.AFP
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