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Oil prices fell by about 4% on Thursday on worries about slow demand growth as coronavirus cases rise, with U.S. crude stockpiles hitting an all-time high and the U.S. Federal Reserve saying recovery from the pandemic could take years.
U.S. West Texas Intermediate (WTI) crude (CLc1) dropped 4%, or $1.60, to $38 a barrel, after being down earlier as much as $1.69, or 4.3%.