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Oil extends losses, nears $33 a barrel

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Singapore - Oil prices plunged close to $33 a barrel on Thursday as crude extended losses on rising US energy stockpiles and China's weakening currency.

At 02:30 GMT, US benchmark West Texas Intermediate (WTI) for February delivery was down 60 cents at $33.37.

Its close of $33.97 a barrel on the New York Mercantile Exchange on Wednesday marked the lowest settlement price since December 2008 during the global financial crisis.

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