Crude Oil Falls Hard on Stock Report
Posted on: Wednesday, 15 February 2006, 18:00 CST
News of huge U.S. oil inventories chopped the price of crude oil Wednesday on the New York Mercantile Exchange.
The price of crude oil for March delivery fell nearly $2 per barrel to $57.60, and natural gas was off a nickel to $7.06 per million Btu.
Gasoline futures were down slightly to $1.385 per gallon, and heating oil closed off at $1.607 per gallon.
The Energy Department reported that U.S. oil supplies were well above average levels for this time of year.
Source: United Press International
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