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U.S. crude oil hits six and a half year low on high stocks, China

© Reuters. A customer holds a nozzle to fill up his tank in a gasoline station in Nice

LONDON (Reuters) - U.S. crude oil fell to its lowest in almost six-and-a-half years on Friday as huge stockpiles and refinery shutdowns added to concerns about global oversupply and slowing economies in Asia.

Oil had already tumbled more than 3 percent on Thursday, driven by a report that stocks at Cushing, Oklahoma, the delivery point for U.S. crude futures, rose more than 1.3 million barrels in the week to Aug. 11.

U.S. crude was down 30 cents at $41.93 a barrel by 0945 GMT. The contract earlier hit an intraday low of $42.35, its lowest since March 4, 2009. Brent crude traded at $49.00, down 22 cents and some way off its 2015-low of $45.19 reached in...


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