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Oil falls to $106 on economic woes

Reuters
Posted online: Friday , March 28, 2008 at 0910 hrs IST

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Singapore, March 28: US oil futures fell more than a dollar on Friday toward $106 a barrel, as traders wary over the US economic outlook took profits from a three-day rally.

Prices jumped on Thursday due to a major oil pipeline explosion in Iraq.

US crude fell $1.23 a barrel to $106.35 a barrel by 0359 GMT, paring a gain of $1.68 a barrel on Thursday.

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