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CBS News reported that oil prices edged below $104 a barrel as Standard & Poor’s lowered Spain’s credit rating.

CBS News reported that oil prices edged below $104 a barrel as Standard & Poor’s lowered Spain’s credit rating.

As quoted in the market news:

Oil prices have hovered between $102 and $104 most of this month as traders weigh the impact of Europe’s debt crisis and the conflict over Iran’s nuclear program against signs of recovery in the U.S. economy.

Click here to read the full CBS News report.

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