Oil Drops 0.6 percent as U.S. Stockpiles Rise

- February 1st, 2012

Bloomberg reported that crude oil fell 0.6 percent after U.S. crude stockpiles surged and gasoline consumption dropped to a 10-year low.

Bloomberg reported that crude oil fell 0.6 percent after U.S. crude stockpiles surged and gasoline consumption dropped to a 10-year low.

As quoted in the market news:

Futures were down as much as 0.6 percent after settling at the lowest close in six weeks yesterday. Crude supplies rose 4.2 million barrels last week, figures from the Energy Department showed.

Click here to read the full Bloomberg report.

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