Source Pravda.Ru

Crude Slides 1.1 Percent, Paring Last Week’s Gains

Oil declined in New York for the first time in four days as traders viewed last week’s climb above $76 as an opportunity to sell contracts, given signs that U.S. economic growth may falter.

Crude slid as much as 1.1 percent, paring last week’s gains. Retail sales in the U.S., the biggest energy user, probably fell in June for a second month and industrial production cooled, economists said before reports this week. Oil rose earlier as China, the world’s second-largest energy consumer, reported record oil imports in June, Bloomberg says.

Benchmark crude for August delivery was up 7 cents to $76.16 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added 65 cents to settle at $76.09 on Friday.

Oil prices rose last week as investor fears eased that the U.S. economy will slip back into recession later this year. Traders will be eyeing second quarter corporate earnings season, beginning this week with reports from Alcoa Inc., Intel Corp., Google Inc., JPMorgan Chase & Co. and Bank of America Corp, The Associated Press reports.

Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA
Comments
Should Russian athletes go to non-Olympic Games in South Korea?
Russia on the eve of another Crimea referendum
Russia to install laser navigation system on the Moon
Russia to install laser navigation system on the Moon
Putin to Sobchak: We will never let them turn Russia into another Ukraine
USA to ruin Russian-Japanese relationship with the help of Aegis Ashore system
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Russia not pulling out from any international agreements, Putin says
Donbass without militia will be worse than Srebrenica - Putin
Donbass without militia will be worse than Srebrenica - Putin
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Putin in Egypt: Who's the big player in the Middle East?
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
Russia leaves Syria, but USA stays, to spend some more