Ken Hasegawa News
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Commodities tumbled to the lowest level since July, led by precious metals and crude oil, after economic growth in China, the world’s biggest consumer of metals and energy, missed analysts’ estimates.
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West Texas Intermediate crude rose to narrow its discount versus Brent to the lowest level in eight months. The European benchmark was headed for a second weekly decline.
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Oil rose in New York for the first time in three days as President Barack Obama and the U.S. Congress prepared to assemble to discuss a budget solution to meet a year-end deadline.
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Oil rose in New York, heading for a second weekly gain, as economic data bolstered optimism fuel demand will increase in the U.S., the world’s biggest crude- consuming nation.
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Oil dropped for a second day in New York as traders sold contracts to secure profits and U.S. gasoline inventories increased, signaling demand may be slow in catching up with a strengthening economy.
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Oil traded close to the highest level in four months in New York after posting the longest run of weekly gains since April 2009, lifted by speculation that a global economic recovery will boost fuel demand.
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Oil rose in New York, heading for the longest run of weekly gains since April 2009, on speculation that signs of U.S. economic growth and Europe’s steps to contain its debt crisis will support demand for fuel.
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Oil declined to its lowest in two weeks on signs that snowstorms in the U.S. curbed gasoline consumption in the world’s biggest crude consumer.
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Oil fell for the first time in four days, paring a third weekly advance in New York, on speculation that its rise to a three-month high was not sustainable.
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Oil fell for a third day to the lowest level in almost nine months and headed for a second weekly decline amid signs of a global economic slowdown that may curb fuel demand.
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