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Crude also began the day higher

Crude also began the day higher

 

Crude also began the day higher Thursday, but found resistance at the $48 level ahead of the U.S. crude inventory report.  That report showed a drop of 2.2 million barrels, which was the seventh straight week of crude inventory declines, but was also a smaller decline than anticipated by traders. 

They responded by selling crude heavily, and by the close crude was 4.8% lower, settling just above the $45 a barrel level.

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