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Oil drops on report of higher oil stockpiles, Fed Fame it!
Posted on Jun 26 2008 6:06 AM by adeal

Oil futures fell sharply Wednesday after the Energy Department said the nation's supplies of fuel and oil were larger than expected last week -- evidence that the soaring price for gasoline has sliced into Americans' demand for fuel. The Federal Reserve's decision to hold interest rates steady had little impact on trading. At the pump, gas prices inched lower but remain entrenched above $4 a gallon.



Full story: businessweek.com
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