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In this paper, we present a distributed algorithm to dynamically allocate the available resources of a service-oriented network to delay sensitive network services. We use a utility-based framework to differentiate services based on both their relative profitability and quality-of-service requirements. Our performance metric is the end-to-end delay that a service class experiences in the network. We use network calculus to obtain a deterministic upper bound of this delay and we incorporate this information into our optimization problem formulation. We leverage a moving average control scheme to capture traffic shifts in real time, which makes our solution to react adaptively to traffic dynamics. Finally, we evaluate our system using real traces of instant messaging service traffic.