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Teck Resources (TCK) Stock Down with Copper, Oil Prices

NEW YORK (TheStreet) -- Teck Resources (TCK - Get Report) stock closed lower by 8.58% to $6.82 on Monday, as copper and oil prices retreated.

The natural resources company produces copper, and the metal is retreating this afternoon as concerns persist about demand from China, which accounts for 45% of global copper consumption, according to the Wall Street Journal.

Teck Resources, which focuses on oil as well, was also hurt by lower oil prices today. Traders took profits following last week's gains, and the Organization of Petroleum Exporting Countries upped production by 110,000 barrels per day in September compared to August, Reuters reports.

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WTI crude is down 4.47% to $47.41 per barrel, while Brent crude is decreasing 4.67% to $50.19 per barrel this afternoon, according to the CNBC.com index. Copper for December delivery is...


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