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Oil weakens on economy fears

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Oil weakens on economy fears

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Oil has fallen for a seventh straight day, its longest losing streak in five months, and analysts say it is all down to fears about European growth, and falling US demand. Inventories in the world’s biggest energy consumer rose by nearly a million barrels last week. Angola’s oil minister says OPEC is “tense” about the price, now under 70 dollars, and may call an emergency meeting if the fall continues.