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Oil prices slip further


Oil prices slip further


The price of crude has fallen further to around 38 dollars a barrel in the US. There are technical reasons for that, but OPEC’s record cut in output also failed to stem the price decline. The latest figures showed stockpiles of oil in the US rising. After a day of choppy trading Europe shares ended just ahead with only Paris in the red.

Retailer Carrefour was a big loser after it lowered its profit forecast. Semiconductor equipment maker ASML also anticipated lower sales. Lower oil prices hit energy shares and investors sought the relative safety of drugmakers. Among the other influences, British retail sales rose unexpectedly in November, but UK public sector net borrowing rose to its highest monthly total since records began.

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