NYMEX crude for May delivery was down 12 cents at $83.64 a barrel, after rising $1.39 to settle at $83.76 on Wednesday, the highest settlement since October 9, 2008, as the euro's gain against the US dollar helped to offset large-than-expected builds in US crude and gasoline stockpiles.
For the first quarter of 2010, US crude futures finished up $4.40, from the end of 2009. It was the fifth consecutive quarterly gain for crude futures.
On Wednesday, a report from the US Energy Information Administration showed US crude oil stocks rose by 2.9 million barrels to 354.2 million barrels last week. The increase topped the forecast for a rise of 2.4 million barrels, while gasoline inventories logged a modest but surprise gain.
Source BloombergUTV
Label oil price,commodity price
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