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Oil off on supply fears; stocks slip before French election

US crude futures fell below $50 a barrel for the first time in more than 2 weeks on renewed fears

Reuters  |  New York 

Oil prices fell on Friday as oversupply concerns resurfaced, while the euro and stocks slipped ahead of the first round of the French presidential election on Sunday. US crude futures fell below $50 a barrel for the first time in more than two weeks on renewed fears that increasing US production will thwart Opec's attempts to reduce the global oil glut. Geopolitical worries remain an issue for investors also with all four leading candidates in the first round of the French presidential election on Sunday seen with a chance of making the run-off vote on May 7. Centrist ...

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First Published: Sat, April 22 2017. 16:04 IST
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