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Bad economic news eats away value of crude as consumers, businesses slash energy use

OIL prices dipped below US$38 a barrel yesterday on fresh evidence of weakness in the US housing market and a shrinking gross domestic product that suggests the recession may be worsening. A report by the Commerce...

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<p><a href="http://www.shanghaidaily.com/sp/article/2008/200812/20081224/article_385697.htm"> Bad economic news eats away value of crude as consumers, businesses slash energy use </a> by -- OIL prices dipped below US$38 a barrel yesterday on fresh evidence of weakness in the US housing market and a shrinking gross domestic product that suggests the recession may be worsening. A report by the Commerce... </p>