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U.S. report: Oil imports down, domestic production highest since 2003

Against the backdrop of gasoline prices rising at the pump in an election year, a new Obama administration report cites “significant progress” in reducing foreign oil imports and increasing domestic oil and gas production.

 

Retail sales rise more than expected

Retail sales rise more than expected

The government says retail sales advanced in June by the largest amount in five months, led by a surge in gasoline prices and a slight rebound in the battered auto sector.

 

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