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Oil price at five-month low

THE price of crude oil fell to its lowest level in five months on the back of easing supply concerns. US light crude for October delivery fell to $US65.85, the lowest price since the beginning of April. OPEC has been pumping close to its fastest rate for 25 years to guard against price shocks and ease pressure on consumer economies. The lower oil price dragged down the spot price of gold to its lowest level since late June at $US599.25.

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