Oil Prices Slumped as Weak US Data Spurred Worries about Recovery

Renewed worries about economic recovery pressured the energy market. Crude oil tumbled to as low as 77.05 before closing at 78.17, down -2.3%. Decline in heating oil and gasoline were even steeper, by -7.3% and -2.9%, respectively.

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Oil Prices Slumped as Weak US Data Spurred Worries about Recovery