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Oil prices rise on hefty decline in US stockpiles

The price of oil is rising after U.S. crude inventories shrank more than expected for a fourth consecutive week.   Benchmark oil rose 31 cents to $97.15 per barrel Wednesday in New York. Brent crude fell 5 cents to $114.59 per barrel in London.   The government says crude inventories totaled 360.7 million barrels last… Continue Reading Oil prices rise on hefty decline in US stockpiles

Oil rises on expected drop in supplies

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Oil prices are starting to rise with some anticipating that a recent tropical storm disrupted supply. The government will report petroleum supply levels on Wednesday. Tropical Storm Lee hammered the Gulf Coast earlier this month, forcing oil platforms and refineries to temporarily shut down. U.S. regulators said nearly 900,000 barrels of daily oil production was… Continue Reading Oil rises on expected drop in supplies

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Home prices in major U.S. cities rose in May for the second straight month, propped up by a flurry of spring buyers. But after adjusting for such seasonal factors, prices fell in a majority of markets. The Standard & Poor’s/Case-Shiller home-price index released Tuesday showed that prices rose in 16 of the 20 cities tracked.… Continue Reading Spring buying boosted home prices for 2nd month

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