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US crude down over 1 pct on weak global factory data
July 2, 2012 / 6:41 PM / 5 years ago

US crude down over 1 pct on weak global factory data

NEW YORK, July 2 (Reuters) - U.S. crude oil futures fell back Monday as weak manufacturing data from China, Europe and the United States stirred oil demand worries, giving up part of Friday’s 9 percent gain.

A threat from Iranian lawmakers to block tankers from shipping crude through the Strait of Hormuz to countries backing anti-Iran sanctions helped curb the day’s losses.

NYMEX August crude settled at $83.75 a barrel, falling $1.21, or 1.42 percent, after trading between $82.10 to $85.05. (Reporting By Gene Ramos; Editing by Tim Dobbyn)

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