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Wednesday, October 28, 2009
Crude Oil Futures Dip As Gasoline Supplies Rise
By Nick Godt
MarketWatch Pulse
NEW YORK -- Crude oil futures fell further on Wednesday after the Energy Department reported an increase in crude oil inventories, but an unexpected increase in gasoline supplies. Crude oil for December delivery was down $1.43, or 1.8%, at $78.13 a barrel on the New York Mercantile Exchange. Crude oil inventories rose by 0.8 million barrels in the latest week, while U.S. gasoline stocks rose by 1.6 million barrels. Analysts polled by Platts expected a build of 900,000 barrels in U.S. commercial crude stocks, and a drop of 1 million barrels in gasoline stocks.
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