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flag Oil prices dropped below $55, nearing $40, due to excess supply and weak demand.

flag Oil prices fell below $55 a barrel, the lowest since February 2021, as supply outpaces demand, prompting warnings of further declines to $40 a barrel. flag Analysts cite persistent oversupply and weakening demand, though specific causes like economic trends or policy shifts are not detailed. flag The drop highlights ongoing energy market volatility and potential risks for oil-dependent economies and producers.

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