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Crude oil fell below $80 per barrel Thursday in a 2.5 percent drop that extends the commodity's nearly four-month plunge.
Since March 1 the price of crude oil in New York trading has fallen more than 27 percent. Crude oil traded in London has dropped by a similar percentage.
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Traders attributed the last fall to news that China's factory sector shrank for an eighth straight month in June, according to Reuters.
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