Crude Oil Heads for Third Weekly Decline on Slowing Economy
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Oil headed for its third straight weekly decline as a slowdown in U.S. manufacturing added to concern that the economic recovery is faltering.
Crude pared losses as Japan, the world’s third-biggest energy consumer, pledged to take action to revive its economy. Prices were poised for a drop this week after gains in U.S. crude inventories, which climbed more than expected last week.