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Oil hits 2-year low; dollar rises ahead of Fed

From reuters.com

Brent crude fell below $97 per barrel on Monday, its lowest level in more than two years, as weak Chinese economic data cut the prospect for demand at a time of abundant supply, while expectations that the Federal Reserve will provide new details this week about its plans to raise interest rates lifted the dollar. Chinese factory output grew at the weakest pace in nearly six years in August as growth in other key sectors also cooled, raising fears the world's second-largest economy, and the biggest energy consumer, may be at risk of a sharp slowdown. The Brent contract for October delivery, which expired on Monday, ... (full story)

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