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Late Tuesday Alcoa predicted that aluminum demand would rise 7 percent this year, slightly better than the 6 percent increase in 2012. That indicates the company expects a pickup in economic activity, which in turn could boost demand for oil. Brent crude, used to price international varieties of oil, dropped 18 cents to end at $111.76 a barrel on the ICE Futures exchange in London. In other energy futures trading on the New York Mercantile Exchange: Wholesale gasoline fell 2 cents to finish at $2.78 a gallon. Heating oil rose 1 cent to end at $3.07 a gallon.
Pamela Sampson in Bangkok and Pablo Gorondi in Budapest contributed to this report.
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