Aug. 6 (Bloomberg) -- Crude oil futures fell as low as $117.11 a barrel on speculation a slowing global economy will reduce demand, and after the dollar hit a seven-week high.
Today's 1.7 percent drop to the intraday low put prices more than 20 percent below the record $147.27 a barrel in New York on July 11; a drop of 20 percent is a threshold often seen as the start of a bear market.
Read more at http://www.bloomberg.com/apps/news?pid=20601087&sid=a3li.Pq_Q70U&refer=worldwide
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