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Crude falls after inventory data indicates lower demand
Posted on May 14, 2008
Light, sweet crude for June delivery is down $1.46 at $124.13 a barrel on the New York Mercantile Exchange. Brent crude oil for June settlement declined $1.20, or 1%, to $122.90 a barrel on London's ICE Futures Europe exchange. In its weekly inventory report, the Energy Department's Energy Information Administration said crude inventories rose by 200,000 barrels last week, less than the expected 2.5 million barrel jump, according to AP. Inventories of gasoline fell by 1.7 million barrels to 210.2 million barrels, while distillate fuel stocks rose by 1.4 million barrels to 107.1 million. At th...
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