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Brent slips back on weak global factory data
July 2, 2012 / 7:06 PM / in 5 years

Brent slips back on weak global factory data

NEW YORK, July 2 (Reuters) - Brent crude futures fell on Monday as weak manufacturing data from China, Europe and the United States dampened oil demand prospects, erasing some of Friday’s 7 percent gain.

A threat by Iranian lawmakers to hinder tanker movement in the Strait of Hormuz and a continuing strike by Norwegian oil workers helped pare the day’s losses for Brent.

In London, August Brent crude fell 46 cents, or 0.47 percent, to settle at $97.34 a barrel, after trading between $95.30 and $97.87. (Reporting By Gene Ramos; Editing by Alden Bentley)

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