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Oil fell to a one-week low in New York on speculation fuel demand will falter as economic growth in the U.S. weakens and the debt crisis in Europe worsens. OPEC Secretary-General Abdalla El-Badri said today that global demand for oil is rising less than expected.
Oil for October delivery on the New York Mercantile Exchange fell as much as $1.61 to $86.35 a barrel, the lowest price since Sept. 12, and was at $86.85.
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