Oil prices smashed on economic worries, stronger US dollar. Dubai finds new oil field

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Oil prices slumped 5% on Thursday, dropping USD3.84 per barrel in New York (the biggest one-day fall since Jul-2009), to settle at USD73.14. Growing concerns about debt-laden European economies and rising US unemployment claims have sparked a commodities sell-off this week, while a stronger US dollar has exacerbated oil's falls.

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