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"There's little to the latest price action than the increasingly self-fulfilling prophecy of
'sell it in May and go away', with broader macroeconomic concerns used as a lightening rod," Barclays said in a report. "U.S. oil demand is improving while Asian demand remains robust." In other energy trading, heating oil was steady at $2.96 per gallon and gasoline futures were little changed at $3.00 per gallon. Natural gas fell 1.6 cents at $2.49 per 1,000 cubic feet.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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