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Oil drops to $122.30 on lower gas demand
Summary from the United Kingdom, from articles in English
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India imports nearly 75% of its crude oil requirements and controls the price of domestic fuel products to help contain inflation and protect the poor. (article 2)
Oil prices fell by more than $2 a barrel on Wednesday as latest figures showed US petrol reserves had risen more than expected. (article 3)
In London, Brent crude fell $2.82 to $121.76, while in New York, light, sweet crude dipped as low as $121.84. (article 3)
" The days of establishing new record prices appear to be temporarily over said Victor Shum, an energy analyst from consultancy Purvin and Gertz. (article 3)
Oil price rises are a sensitive political issue in India, where a marginal rise in the price of, say diesel, triggers off food and other commodity inflation. (article 1)
The rising cost of oil is having a major impact on the world's economies, with the fall-out being felt by both consumers and businesses. (article 4)
As the oil prices continue to increase - now at a record high of $135 a barrel - BBC business reporters assess the impact in their area. (article 4)
The rising cost of fuel is one of the factors behind higher food prices across Europe, with higher transport costs forcing manufacturers to charge more for their products. (article 4)
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Other summaries about this story:
Other stories about oil, Prices and Gas:
Event tracking:
Story keywords
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oil, Prices, Gas, barrels, energy |
Source articles
- India courts risk with fuel hike (BBC News, 06/04/2008, 732 words)
- India forced to raise fuel prices (BBC News, 06/04/2008, 414 words)
- Oil dips to $121 as reserves grow (BBC News, 06/04/2008, 191 words)
- Soaring cost of oil (BBC News, 06/03/2008, 245 words)
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blaster@cs.columbia.edu
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