Oil prices hold above $75 a barrel

By
July 7, 2006 04:46

 
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Oil prices in New York retreated from record territory but held above $75 a barrel on Thursday as gasoline demand - and geopolitical tensions - remain high. The Energy Department said Thursday that US gasoline consumption over the past four weeks averaged 9.5 million barrels a day, or 1.4 percent more than a year ago.

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