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Wednesday, November 04, 2009
Crude Remains Higher After Fed Statement
By Moming Zhou
MarketWatch Pulse
NEW YORK -- Crude futures remained higher Wednesday after the Federal Reserve held policy steady and repeated it expects to hold interest rates low for extended period. In a statement released after a two-day policy meeting, the Fed also repeated that it "continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period." Crude for December delivery rose 0.7% to $80.13 a barrel on the New York Mercantile Exchange.
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