Oil hovers below $105 as US, China growth slows

Oil   Oil

SINGAPORE (AP) — Oil prices hovered below $105 a barrel Monday in Asia amid the prospect that slowing economic growth in the U.S. and China will undermine demand for crude.

Benchmark oil for June delivery was down 13 cents to $104.80 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 38 cents to settle at $104.93 in New York on Friday.

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