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Crude oil plunges into bear market
The boom-to-bust oil market has rapidly gone from spiking to crashing. US oil prices tumbled another 1.6% to $60.67 on Thursday to settle in a bear market. In barely a month, crude has plunged 21% -- and that's since closing at a four-year high of $76.41 on October 3. The latest slide marks the ninth consecutive decline for oil and the lowest closing price in eight months. It's a stunning turnaround considering just a few months ago some analysts were warning that $100-a-barrel oil could be just around the corner, especially given the Trump administration's crackdown on Iran. The oil slump has been sparked by a ... (full story)