Wednesday, December 9, 2009

Oil rises after estimated drop in crude supply


Oil prices rose to around $73 a barrel Wednesday after a survey of the petroleum industry said U.S. crude supplies dropped unexpectedly last week and the dollar weakened against other currencies.

Benchmark crude for January delivery added 34 cents to $72.96 on the New York Mercantile Exchange. In London, Brent crude for January delivery rose 7 cents to $75.26 on the ICE Futures exchange.

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