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Oil prices plunge on rising U.S. stockpile

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Oil prices plunged after data showed U.S. stockpile rose for the 9th consecutive week.

The West Texas Intermediate for April Delivery erased 2.86 U.S. dollars to settle at 50.28 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery decreased 2.81 dollars to close at 53.11 dollars a barrel on the London ICE Futures Exchange.

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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