Oil Prices Fall on Unexpected Inventory Gain

- July 27th, 2011

Bloomberg reports that crude oil plunged after U.S. supplies increased unexpectedly.

Bloomberg reports that crude oil plunged after U.S. supplies increased unexpectedly.

The market news is quoted as saying:

Crude oil for September delivery fell $1.50, or 1.5 percent, to $98.09 a barrel at 12:15 p.m. on the New York Mercantile Exchange. Prices have climbed 27 percent in the past year.

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