US crude for delivery in June settled at US$75.7 on data showing a rise in oil inventories in USA that overshadowed the market cheer triggered by an austerity plan unveiled by Spain. US Energy Informaation Administration report showed that oil inventories rose to a record 37 million barrels in the week to May 7 -more than expected.
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Tuesday, May 18, 2010
Rising oil inventories deck oil prices
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