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Brent crude oil falls more than $2 on factory data

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North Sea Brent crude oil fell more than $2 per barrel on Monday after factory data in Europe and Asia pointed to a sharp slowdown in global economic activity and lower fuel demand.

July 2, 2012 3:44 by



North Sea Brent crude oil fell more than $2 per barrel on Monday after factory data in Europe and Asia pointed to a sharp slowdown in global economic activity and lower fuel demand.

ICE Brent futures for August slipped to an intra-day low of $95.58, down $2.22, before recovering to trade around $95.70 by 0940 GMT.

Weak factory data on Monday from Europe and Asian economies including China, the world’s top energy consumer, showed demand falling for a range of goods and slower trade flows.

(Reporting by Christopher Johnson; Editing by Alison Birrane)



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