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Oil falls 6% after Trump surprises with travel ban
March 12, 2020 | By Moneycontrol.com
business
The slump in oil is being compounded by the threat of a flood of cheap supply after Saudi Arabia and the United Arab Emirates said they would raise output in a stand-off with Russia.
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Oil prices fell more than 6 percent on Thursday after US President Donald Trump unexpectedly announced restrictions on travel from Europe in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic.
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