Oil Falls in New York as Traders Sell Futures to Lock in Gains
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Oil fell in New York for the first time in four days as traders sold contracts to lock in gains following a rally to a one-week high above $76 a barrel.
Oil rose earlier as China, the world’s second-largest energy consumer, reported crude imports reached a record in June. Retail sales in the U.S., the biggest energy user, probably fell in June for a second month and industrial production cooled, signs the expansion will moderate in the second half, economists said before reports this week.