Oil plunges as U.S. unemployment rate tops 10%

11:11, November 07, 2009      

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Crude prices plunged more than 3 percent on Friday as U.S. unemployment rate hit 10.2 percent, the highest since 1983.

Light, sweet crude for December delivery fell 2.73 U.S. dollars, or 3.4 percent, to trade at 76.89 dollars a barrel at 1:16 p.m. EST on the New York Mercantile Exchange.

Source: Xinhua
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