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Crude futures trade lower on economic data
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08:21, August 31, 2007

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Crude oil futures settled lower Thursday on slower-than-expected economic growth figures.

Second-quarter gross domestic product rose 4 percent in the second quarter, slower than many analysts had expected. And jobless claims rose unexpectedly last week to the highest level since spring.

Energy investors worry that a slower economy means less demand for oil and gasoline.

Light, sweet crude for October delivery fell 15 cents to settle at 73.36 dollars a barrel on the New York Mercantile Exchange.

In London, October Brent crude fell 23 cents to settle at 71.90 dollars a barrel on the ICE Futures exchange.

Source: Xinhua



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