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Reply #2: Oil falls below $97 amid weak US economic growth [View All]

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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-23-11 06:08 AM
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2. Oil falls below $97 amid weak US economic growth
SINGAPORE Oil prices fell to below $97 a barrel Wednesday in Asia as investors eyed weaker U.S. economic growth and fresh sanctions against Iran over its nuclear program.

Benchmark crude for January delivery was down $1.23 at $96.78 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.09 to settle at $98.01 in New York on Tuesday.

Brent crude for January delivery was down $1.08 at $107.95 a barrel on the ICE Futures Exchange in London.

The Commerce Department said Tuesday that the U.S. economy grew 2 percent in the third quarter, less than the preliminary result of 2.5 percent it announced last month.

http://old.news.yahoo.com/s/ap/oil_prices
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