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Crude oil sees marginal dip on speculation of inventory rise in US on slowing fuel demand

26-Oct-10

Oil for December delivery dropped to US$81.8 in electronic trading on the New York Mercantile Exchange while Brent crude for December traded at US$83.4 on the ICE Futures Europe exchange in London. Prices have dropped on speculation that slowing fuel demand will lead to a rise in inventories in USA. An Energy Department report is estimated to show a rise in crude inventories by 1.5 million barrels last week.

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