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Intermediate crude fell for a second day after
dropped as much as 1.2 percent as Libyan officials said the Marsa el Hrega port
was operating and all oil fields in
advanced earlier after
The U.S. and China are the world’s two biggest oil-consuming countries, accounting for about a third of global demand in 2012, according to BP Plc (BP/)’s Statistical Review of World Energy.
WTI crude for September delivery declined 30 cents, or 0.3 percent, to $106.64 a barrel at 10:42 a.m. on the New York Mercantile Exchange. Prices earlier climbed as much as 0.7 percent. The volume of all futures traded was 27 percent below the 100-day average. Futures increased 2.1 percent last week as Libyan exports were cut.
Brent oil for September settlement decreased 50 cents, or 0.5 percent, to $108.45 a barrel on the London-based ICE Futures Europe exchange. The European benchmark traded at a $1.81 premium to WTI, down from $2.01 on Aug. 2.
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