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Posted by HY Markets on Tuesday July 06, 2010 2:32 pm
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Companies started on Thursday to restart some of the 421,350 barrels
per day of oil output, about a quarter of Gulf of Mexico output, shut
as a precaution.
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U.S. crude oil futures fell for the fifth day in a row on Friday,
suffering the first weekly decline in four weeks, as U.S. employment in
June fell for the first time this year, adding to worries that the
economic recovery is stalling.
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For the week, the contract dropped $6.72, or 8.52 percent, the steepest
decline since the first trading week of May, when prices sank more than
$11, or nearly 13 percent.