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Oil dips but holds above $73

LONDON - Oil retreated when the New York market opened on Thursday, handing back some of the previous session's two-percent gain, but analysts said declining crude stocks in top consumer the United States should limit losses, according to Reuters News Agency.

U.S. crude was down 40 cents at $73.11 a barrel by 10:09 a.m. EDT, having jumped $1.78 on Wednesday to its highest settlement in over three weeks.

Posted by Peter C. T. Elsworth  at 9:43 AM to Oil | Permalink

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