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"While demand has been dismal in Europe as the sovereign debt crisis worsened, demand for oil in the U.S. has also surprised to the downside," Bank of America Merrill Lynch said in a report. "Despite the apparently better economic data, U.S. oil consumption has been particularly hit by mild winter weather." Capital Economics said it expects Brent to fall to $100 by the end of this quarter and to $75 by the end of next year. In other energy trading, heating oil was up 0.2 cents at $3.05 per gallon and gasoline futures gained 0.9 cents to $2.88 per gallon. Natural gas fell 3 cents to $2.52 per 1,000 cubic feet.
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