Oil prices slump
Afp, Singapore
Oil prices plunged in Asian trade Wednesday in reaction to steep falls in the Chinese stock market Tuesday and declines in bourses worldwide, said traders. At 12:00 pm (0400 GMT) New York's main oil futures contract, light sweet crude for delivery in April, was down 1.17 dollars to 60.29 dollars per barrel from 61.46 dollars in late US trades. Before its fall, the contract reached as high as 62.65 dollars in US hours.
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