Oil drops 4 pct on oversupply, equities sell-off:: (WWW.SHREEMCX.COM)

Oil prices fell 4 percent on Tuesday, dropping for a third consecutive session as reports of swelling inventories and forecasts of record U.S. and Russian output combined with a sharp sell-off in global stock markets.

U.S. crude oil CLc1 fell $2.04, or 4.1 percent, to a low of $47.84, its weakest since September 2017, before recovering to around $48.10 by 0920 GMT.

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