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Oil Prices Tumble on Faltering Recovery in Demand

Oil prices slumped to their lowest level in more than two months Tuesday, under pressure from a stalling recovery in demand and planned production expansions by OPEC that threaten to add to an existing glut of crude.

Futures tied to West Texas Intermediate, the benchmark grade of U.S. crude oil, tumbled 8% to $36.58 a barrel in New York, their lowest price since mid-June. Brent-crude futures dropped 5.4% to $39.73 a barrel, the first time the international benchmark has fallen below $40 in more than two months. WTI was partly…

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