Monday, 28 March 2016

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Crude oil futures tumbled by more than 1.5 per cent in the domestic market on Thursday as a larger than expected US stockpile build exacerbated fears over a widening global supply glut. US crude oil stockpiles climbed by 9.4 million barrels to 532.5 million barrels in the week ended March 18, 2016, the EIA said. 

The number of Americans who filed to claim jobless benefits climbed, orders for durable goods fell in February but services growth quickened in March, signaling a mixed outlook for the world’s biggest economy, weighing on the fuel.

US jobless claims rose by 6,000 to 265,000 in the week ended March 19, durable goods orders declined 2.8 per cent in February but the gauge measuring US services climbed to 51 in March from 49.7 in February. 

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