Oil drops a 4th day on economic growth fears
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Crude oil prices fell a fourth straight day on Friday, dropping 6.6% for the week, on mounting concerns about slowing economic growth that have weighed on equities and oil prices. Friday's mixed data did not alleviate the concerns or provide much market cheer.
US retail sales rebounded in July but the gains were concentrated in autos and gasoline station sales and showed hints of lingering economic softness. Consumer sentiment showed improvement in August, but as with the retail sales data, there were still signs people remain nervous about the near term. (Reuters)
