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Oil slipped from the highest close in a week, dropping as much as 0.5 percent in New York.
Futures for August delivery lost as much as 40 cents to $86.70 a barrel in electronic trading on the New York Mercantile Exchange and were at $86.72 a barrel at 9 a.m. in Singapore. Prices gained 1.2 percent to $87.10 a barrel July 13, the highest since July 5.
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