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Crude oil prices slide on inventory gains

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Published: Dec. 3, 2009 at 6:36 PM
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NEW YORK, Dec. 3 (UPI) -- Oil prices dropped below $76 per barrel Thursday after the government said crude oil and gasoline inventories rose in the week ending Nov. 27.

The U.S. crude oil inventories rose by 2.1 million barrels in the week, while gasoline stockpiles jumped by 4 million barrels, the U.S. Energy Information Administration said Wednesday.

The price of light, sweet crude shed 80 cents Thursday to $75.80 per barrel on the New York Mercantile Exchange. Heating oil prices lost 0.0095 cents to $2.04 per gallon. Reformulated gasoline prices dropped 0.0089 cents to $1.9841 per gallon. Natural gas slid 0.01 cents to $4.449 per million British thermal units.

At the pump, the national average price of unleaded gasoline was $2.633 per gallon Thursday, up from Wednesday's $2.629, AAA said.

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