MELBOURNE : Oil prices dropped on Wednesday, after a mixed finish in the previous session, amid worries that soaring coal and natural gas prices in China, India and Europe will stoke inflation and slow global growth, reducing oil demand.
Brent crude futures fell 70 cents, or 0.8per cent, to US$82.72 a barrel, extending a 23 cent loss on Tuesday. However, oil watchers are still focused on whether soaring gas and coal prices will lead to more demand for oil products for power generation.
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