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Market News / Commodities

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Fall in the price of crude oil

Monday, 09 April 2012
The price of crude oil has fallen to just over a hundred dollars a barrel on the stock exchanges that have been opened up in Asia after the Easter break.

A barrel of oil cost $102 this morning European time. A month ago same product cost $110 a barrel. The cause is believed to be based on the hope that there would be the possibility to find a diplomatic solution to the dispute over Iran's nuclear program.

A number of world powers are to discuss the issue at a meeting in Istanbul, which begin next Friday. In October, it oil cost $75 a barrel, but since then the fear of a military attack on Iran pushed oil prices on world markets.
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