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The latest U.S. supply data suggested demand may be improving. The American Petroleum Institute said crude inventories plunged 5.4 million barrels last week while analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had predicted a drop of 300,000 barrels. Gasoline supplies rose 417,000 barrels last week, the API said. In other Nymex energy trading, wholesale gasoline futures were down 1.2 cents at $2.98 a gallon and heating oil slid 1.5 cents to $2.98. Natural gas was up 0.3 cent at $2.97 per 1,000 cubic feet.
[Associated
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