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- Oil fell
Oil fell
West Texas
Intermediate crude fell, heading for the first weekly drop in more than a
month, on speculation that
Futures
slid as much as 1.5 percent after
WTI crude
for September delivery fell $1.49, or 1.4 percent, to $104 a barrel at
Brent for
September settlement dropped $1.05, or 1 percent, to $106.60 a barrel on the
London-based ICE Futures Europe exchange. The European benchmark traded at a
$2.60 premium to WTI, compared with $2.16 yesterday. Brent fell below WTI in
intraday trading July 19 for the first time since August 2010.
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