Mfarhanonline:Crude prices sharply lower in Asian trade

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Mfarhanonline Business News SINGAPORE: Crude prices were sharply lower in Asian trade Monday as market confidence took a knock after Standard and Poor’s downgraded the US credit rating, analysts said.

At 0200 GMT, New York’s main contract — light sweet crude for September delivery — was down $2.34, or 2.69 percent, to $84.54 a barrel, from its closing price on Friday

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