Wednesday, January 22
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Oil prices are falling due to global growth concerns and oversupply of US supplies

BAGHDAD, Oil prices fell on Wednesday, driven by oversupply of US supplies and falling stock markets, as the Chinese government warned of growing adverse economic fundamentals and expectations that Japan would cut its GDP for another quarter.

Brent crude for global trade was $ 61.14 a barrel, down 94 cents, or 1.5 percent, from the previous close.

US West Texas Intermediate crude futures were $ 52.44 a barrel, down 81 cents, or 1.5 percent.

Source: National Iraqi News Agency

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