NEW YORK CITY: Oil prices fell again on Thursday (Friday in Manila) in a glum market as the global oversupply of crude oil looked entrenched and demand prospects weak.
US benchmark West Texas Intermediate for September delivery fell 49 cents to $44.66 a barrel on the New York Mercantile Exchange, closing below $45 for the first time since March. The WTI contract was now barely $1 above its lowest closing level in six years.
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