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Oil Slips to Near $74 a Barrel
Oil prices fell near $74 a barrel Friday following economic data that showed the service sector’s growth slowed, Bloomberg reported.
Crude futures fell 42 cents to finish the week at $74.60 on the New York Mercantile Exchange, after closing over $75 Thursday for the first time in a week, Bloomberg said.
The Institute for Supply Manufacturing said Friday that the economy’s service-sector growth rate slowed in August from July.
Diesel and gasoline prices have both fallen for the past three weeks after several weeks of increases.
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The Department of Energy will release its weekly pump-price survey of the two fuels on Tuesday afternoon in Washington, a day later next week due to the Labor Day holiday Monday.
