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U.S. oil off highs on home sales data, OPEC

Posted on 30 May 2011

U.S. oil prices were well off early highs on Friday after data showed U.S. home sales plunged in April, adding to the latest crop of weak economic signals, and wiping away most of the day’s early gains sparked by a weaker dollar.
Industry data showed pending sales of existing U.S. homes fell more than expected in April to hit a seven-month low, dashing hopes for a recovery in the vital housing market……………………………………….Full Article: Source


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