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Crude Falls Below $70 |
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6:32 AM EDT August 30 2006 |
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Crude oil fell to its lowest close in two months, dropping below $70 a barrel Tuesday as Tropical Storm Ernesto continued its path away from Gulf of Mexico oil platforms and as dropping U.S. consumer confidence stoked concerns that demand might slacken. The front-month October light, sweet crude contract on the NYME declined 90 cents at $69.71 a barrel. September gasoline rose 0.61 cent to $1.7892 a gallon and September heating oil shed 2.27 cents to 1.9432 a gallon. September natural gas rose 34.4 cents to finish at $6.816 a million British thermal units. On the New York Board of Trade, Arabica coffee futures for September ended up 0.10 cent at $1.0330 a pound. Futures on raw sugar in foreign ports for October ended down 0.25 cent at 11.88 cents a pound. |
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