Monday, December 30, 2013

Lower inventory levels send oil up above US$100

Crude-oil futures finished above US$100 a barrel on Friday after government data showed a greater-than-expected drop in inventory levels in the past week.

Crude for February delivery rose 0.8% to finish at US$100.32 a barrel on the New York Mercantile Exchange, for a 1% gain on the week.

On the other hand, gasoline for January delivery dropped by less than a penny to settle at just under US$2.82 a gallon after trading higher for most of the day.

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