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U.S. crude Falls Below $30 Even Though Iraq Has Record Output

6% fall in crude oil futures made last session even though Iraq's output has reached an all time high in December.

According to Asian trading on Tuesday, U.S. crude oil futures have fallen below $30 per barrel. This extends a 6% fall made last session even though Iraq's output has reached an all time high in December. 

 U.S. crude CLc1 fell 47 cents, or 1.55 percent, to $29.87 a barrel by 2309 GMT after a result of $1.85, or 5.8 percent, lower at $30.34 a barrel.  

 Global benchmark Brent crude LCOc1 went down $1.68 at $30.50 a barrel in the prior session, 5.2 percent below its closing price on Friday.

 

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