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July, 30, 2016

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Business > Global Markets
Oil prices sank for a sixth straight session Thursday in Asia, tracking a sell-off across equities with an expected pick-up in output adding to worries about the global economy and a weaker-than-forecast fall in U.S. stockpiles.
 
The dollar edged higher Wednesday as the U.S. central bank winds up its two-day policy meeting, but anxiety over the UK's vote on its future in the European Union hung over the market.
 
The dollar edged higher Wednesday as the U.S. central bank winds up its two-day policy meeting, but anxiety over the UK's vote on its future in the European Union hung over the market.
 
Oil prices tumbled again Wednesday as traders grow concerned about the chances of the UK leaving the European Union while news of a surprise jump in U.S. stockpiles followed a warning of an extended period of global oversupply.
 
The International Monetary Fund said Tuesday it had offered Angola US$4.5 billion in loans as the country, which was wracked by civil war until 2002, has been badly impacted by falling oil prices.
 
A huge overhang in oil stocks lingering across the world will keep a cap on any further oil price rises, the IEA said Tuesday, even as supply and demand move toward balance by the end of the year.
 
The pound was at two month lows on Tuesday as worries over the UK voting to leave the European Union bolstered demand for safe-haven units, including the yen.
 
Oil prices fell around 1 percent in Asia Tuesday, extending a sell-off on speculation about a pick-up in production while world markets are rattled by fears over the UK's possible exit from the European Union.
 
The pound dropped to a two-month low and the yen rallied Monday as jittery investors shifted into safer assets on worries about Britain's possible exit from the European Union.
 
Oil prices slipped again Monday, extending last week's losses and mirroring a sell-off across Asian markets fuelled by worries about the global economy, Britain's future in the EU and producers bringing more rigs back online.
 
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