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Oil continues to Fall in Price

Oil prices continued to fall during trading on Thursday, hitting three-week lows on concerns that rising interest rates policies by leading central banks could limit global economic growth and fuel consumption going forward. At the same time, the dollar has appreciated in the foreign exchange market, with its strengthening making oil more expensive for buyers in other currencies. The drop in oil prices is mostly due to renewed concerns that interest rate hikes by the Fed and the ECB will cool economic growth and reduce consumption of the important energy commodity….