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"While Europe concerns impact all asset markets, the slowdown in China is particularly daunting for commodities," Citigroup said in a report. However, the recent drop in fuel costs should help Asian economies by easing inflation pressures and giving policymakers more room for fiscal and monetary stimulus measures. "In general, cheaper oil is in itself a good thing for Asia," Capital Economics said in a report. "The trouble is that oil prices are falling because the global economy is getting weaker. This means that instead of pushing up Asian growth, lower oil prices will only cushion the downside." In other energy trading, heating oil was down 1 cent at $2.58 per gallon while gasoline futures slid 0.6 cent at $2.49 per gallon. Natural gas added 2.9 cents at $2.83 per 1,000 cubic feet.
[Associated
Press;
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