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US crude pares losses after nonmanufacturing data

Published 09/06/2011, 10:19 AM
Updated 09/06/2011, 10:24 AM
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NEW YORK, Sept 6 (Reuters) - U.S. crude oil futures pared loses after data from the Institute of Supply Management showed that the pace of expansion in the U.S. services sector unexpectedly accelerated in August, ending three successive months of slower growth.

On the New York Mercantile Exchange at 10:10 a.m. EDT (1410 GMT), crude for October delivery was down $1.20 at $85.25 a barrel. It had fallen earlier to a session low of $83.20, down $3.25.

With U.S. crude weaker than Brent crude, the WTI/Brent spread widened to $26.96, just 2 cents from the record $26.98 struck on Friday. It later narrowed to $26.84. (Reporting by Gene Ramos)

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