WTI Fluctuates After Third Weekly Advance as China Grows
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West Texas Intermediate crude declined after a thirdly weekly increase amid evidence that economic expansion in China, the world’s second-largest oil consumer, is slowing.
Futures retreated as much as 1.1 percent in New York. China’s growth dropped to 7.5 percent in the second quarter from 7.7 percent in the first, as factory output and investment in fixed assets decelerated, data from the National Bureau of Statistics in Beijing showed. Crude slipped even as Islamists in Egypt, home to the Suez Canal, called for mass protests today to demand the reinstatement of ousted President Mohamed Mursi.