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GM halts Volt production, lays off 1,300
NEW YORK, March 6 (UPI) -- Crude oil dropped to under $105 per barrel overnight in New York, as markets adjusted to news that China expected slower economic growth in 2012.
Chinese Premier Wen Jiabao in a televised speech Monday said the government had lowered its target of 8 percent growth for the year to 7.5 percent, which would be the lowest rate for China in 22 years.
April delivery light sweet crude prices on the New York Mercantile Exchange lost $1.92 to reach $104.71 per barrel. Home heating oil added 0.6 cents to $3.1942 per gallon. Reformulated gasoline gained 0.51 cents to $3.235 per gallon.
Henry Hub natural gas prices lost 0.6 cent to $2.35 per million British thermal units.
The national average price of unleaded gasoline fell slightly from Monday's $3.767 per gallon to $3.764 per gallon, AAA said.
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SEOUL, March 6 (UPI) --
South Korea has signed a deal to develop three oil fields in the United Arab Emirates.
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NEW BEDFORD, Mass., March 6 (UPI) --
U.S. company iRobot has received a $1.5 million U.S. military contract for its FirstLook robots.
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Foreclosure sales spiked in the first month of 2012, up approximately percent respectively. Sales in non-judicial states outpaced judicial by over three to one, exacerbating the backlog of foreclosures soon to reach local real estate markets in states...
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When the economy tanked in 2008, many top-flight economists said, "that's OK, we'll just do business with China until things get better."
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