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But other analysts saw room for oil prices to fall. Leaving rates low would encourage businesses and consumers to borrow money cheaply, boosting the economy and leading to higher oil demand. But the Fed also "telegraphed its concern regarding U.S. economic growth ... which is intuitively bearish for oil," said energy trader and consultant The Schork Group. In other Nymex trading, heating oil rose 2.3 cents to $3.03 per gallon and gasoline futures gained 1 cent to $2.85 per gallon. Natural gas advanced 3.9 cents to $2.77 per 1,000 cubic feet.
[Associated
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