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Australian stocks have been smashed by the 10% plunge in oil prices on the New York Mercantile Exchange sending the ASX200 falling 105.3 points or 2% to 5207.7.
Light sweet crude futures for delivery in January fell US$7.54 to finish at US$66.15 a barrel on Friday the lowest settlement for a front-month oil contract since Sept. 25 2009.
This follows the Organization of Petroleum Exporting Countries leaving its current production ceiling unchanged amidst the fastest rise in U.S. crude production in three decades.
Aziana () rose 6.67% to $0.016 after reaching an agreement to sell its Louisiana Oil and Gas Project to Triumph Energy for a total of up to US$12.5 million.
This consists of a US$250000 cash consideration and a 3.5% overriding royalty interest capped at US$12.25 million.
() is up 13.04% to $0.026 and () is up 33.33% to $0.004.
Now on to the blue chips.
While there was a general fall in blue chip stocks Qantas () rose 4.69% to $2.01 on expectations of cheaper jet fuel prices.
Oil and Gas
Oil Search () down 8.5% to $7.29
() down 9.8% to $9.11
() down 4.3% to $34.20
Major miners
() down 5.3% to $29.27
() down 10.9% to $2.62
Newcrest () down 11.2% to $9.18
(ASX:RIO) down 4.1% to $56.66
Big 4 banks
ANZ Bank (ASX:ANZ) down 0.8% to $31.66
() down 1.1% to $79.80
() down 1.4% to $32.15
() down 1.0% to $32.24
Other banks financials and industrials
() down 2.1% to $5.52
() down 1.5% to $12.14
Bendigo and Adelaide Bank () down 1.9% to $12.53
() down 0.8% to $57.96
Suncorp () down 0.6% to $14.25
() down 1.2% to $5.62
Retailers
JB Hi-FI () flat at $15.47
() down 1.0% to $41.01
Woolworths () down 2.1% to $30.48
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