Oil falls to near $85

Oil   Oil
By Alex Kennedy on July 12, 2012

SINGAPORE (AP) — Oil fell to near $85 a barrel Thursday as signs of slowing global economic growth offset hopes that central banks will soon implement stimulus measures.

Benchmark oil for August delivery was down 71 cents at $85.10 a barrel by late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose $1.90 to settle at $85.81 on Wednesday in New York.

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