Crude Falls as the Dollar Recovers

13 November 2009 @ 03:51 am EDT

Crude Oil prices plummeted 3.7% yesterday, as U.S. data presented a lower demand and an increase in imports which raised the level of Crude Oil Inventories. A stronger Dollar also helped to accelerate the price decline in Crude Oil. Crude Oil finished the day down at $76.32 from an opening price of $79.29. This was as Crude Oil stocks rose by 1.8million barrels over the previous week. The increase was over 1 million barrels higher than market forecasts.

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