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Oil prices fall as crude supplies rise after drops in 5 previous weeks
Posted on June 25, 2008
Light, sweet crude for August delivery fell $4.86 to $132.14 on the New York Mercantile Exchange. In London, August Brent crude futures fell $3.93 to $132.53 a barrel on the ICE Futures exchange. In its weekly inventory report, the department's Energy Information Administration said crude supplies rose by 800,000 barrels to 301.8 million barrels for the week ended June 20. Gasoline inventories fell by 100,000 barrels to 208.8 million barrels, while inventories of distillate fuel rose by 2.8 million barrels to 119.4 million barrels. Demand for gasoline over the four weeks ended June 20 was 2.1%...
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