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| Version 0 | Version 1 |
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| Oil slump drags down Australian shares | Oil slump drags down Australian shares |
| (35 minutes later) | |
| Australian stock markets opened lower on Wednesday following an overnight slump in oil prices. | Australian stock markets opened lower on Wednesday following an overnight slump in oil prices. |
| The resource-heavy S&P ASX 200 index opened down 1.1% at 5,298.1 points. | The resource-heavy S&P ASX 200 index opened down 1.1% at 5,298.1 points. |
| Shares in energy giant Rio Tinto lost 3.7% in early trading, while Woodside Petroleum lost 2%. | Shares in energy giant Rio Tinto lost 3.7% in early trading, while Woodside Petroleum lost 2%. |
| Oil prices fell overnight on renewed fears of a supply glut. According to industry data, output from Middle East producers jumped last month and may continue to rise in the near term. | Oil prices fell overnight on renewed fears of a supply glut. According to industry data, output from Middle East producers jumped last month and may continue to rise in the near term. |
| Additionally, a US government report due out on Wednesday is expected to show that US crude stockpiles are at a record high. | Additionally, a US government report due out on Wednesday is expected to show that US crude stockpiles are at a record high. |
| Brent crude, used as an international benchmark, was down 1.9% at $44.97 a barrel. | Brent crude, used as an international benchmark, was down 1.9% at $44.97 a barrel. |
| BHP Billiton shares opened sharply lower in Australia, and are down by 5.98%. | |
| Prosecutors in Brazil have filed a $43.5bn (£30bn) civil lawsuit against iron miner Samarco, and its owners BHP Billiton and Vale. Neither Vale nor BHP were immediately available for comment. | Prosecutors in Brazil have filed a $43.5bn (£30bn) civil lawsuit against iron miner Samarco, and its owners BHP Billiton and Vale. Neither Vale nor BHP were immediately available for comment. |
| In South Korea, the benchmark Kospi index kicked off 0.55% lower at 1,975.49 points. | In South Korea, the benchmark Kospi index kicked off 0.55% lower at 1,975.49 points. |
| US stocks closed lower overnight as concerns about a global economic slowdown resurfaced. | US stocks closed lower overnight as concerns about a global economic slowdown resurfaced. |
| Weak economic data from China and Europe, a drop in oil prices and an Australian rate cut renewed fears about the global economy. | Weak economic data from China and Europe, a drop in oil prices and an Australian rate cut renewed fears about the global economy. |
| Markets in Japan are shut for three days of national holidays and will re-open on Friday. | Markets in Japan are shut for three days of national holidays and will re-open on Friday. |