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Oil Prices Remain Near $72 a Barrel

Oil prices held near $72 a barrel Thursday despite a U.S. government report showing big declines in crude and gasoline stocks and an unexpected drop in refinery activity, according to the Associated Press.

Light, sweet crude for September delivery was down 16 cents to $71.99 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. The contract moved between $71.66 and $72.40 during early trading.

Posted by Peter C. T. Elsworth  at 8:57 AM to Oil | Permalink

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