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Wednesday, January 27, 2016

Current Events-Oil

http://www.cnbc.com/2016/01/19/oil-prices-fall-further-on-glut-worries-us-crude-slumps-below-28.html

U.S. oil prices crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets with traders also worried that the crude supply glut could last longer.

What does this mean?? I mean, they are calling for oil at less than $16 a barrel.

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