Oil drops as growth slackens in China

The price of oil saw its largest drop in five months Wednesday as China’s slowing economy raised questions about the strength of global oil demand.

By SANDY SHORE Published: October 4, 2012
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Oil fell the most in five months on Wednesday as China’s slowing economy raised questions about the strength of global oil demand.

Benchmark oil fell $3.75, or 4.1 percent, to $88.14 per barrel Wednesday in New York. That was the biggest decline since May 4, when oil fell $4.05 per barrel.

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Energy prices

In other energy futures trading:

•Natural gas fell 13.6 cents, or 3.8 percent, to $3.395 per 1,000 cubic feet, a day after hitting a high for the year.

•Heating oil dropped 5.9 cents to $3.066 per gallon.

•Wholesale gasoline dropped 7 cents, or 2.5 percent, to $2.80 per gallon.

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