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Oil plummets again

THE oil price took another hit overnight, ending its rally and weighing on the US market.

Kristie Batten

West Texas Intermediate crude oil slumped by 8.7% to $US48.45 a barrel. The S&P 500 closed 0.4% lower, while the Dow Jones Industrial Average gained just 0.04%, with both indices wiping out earlier gains....

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