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Oil Prices Climb on Mixed US Fuel Data

Oil prices rose after a bigger-than-expected gain in U.S. gasoline inventories was matched by lower-than-expected crude stockpiles, according to the Assocated Press.

"The latest data on U.S. inventory levels was rather uninspiring, with a little something for both the bulls and the bears," PVM Oil Associates in Vienna commented.

Light, sweet crude for August delivery rose 77 cents to $73.33 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. The contract slipped 25 cents to settle at $72.56 a barrel Wednesday.

Posted by   at 9:38 AM to Oil | Permalink

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