Crude Tumbles by $4 on Demand Concerns

Reuters

U.S. crude futures prices fell $4 on Thursday after a report showing an unexpected jump in initial jobless claims added to concerns about demand for oil and slowing economic growth and as the dollar index strengthened.

On the New York Mercantile Exchange, June crude fell $3.82, or 3.5 percent, to $105.42 a barrel by 9:15 a.m. EDT (1315 GMT), trading from $105.11 to $109.38.

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