Crude falls on recession concerns in U.S.--

Crude falls on recession concerns in U.S.

2008-01-10 10:07:06 [ Big Normal Small ] 　Comment

Crude-oil futures ended a volatile session Wednesday modestly lower as concerns about possible U.S. recession outweighed an eighth week drop of U.S. crude inventories.

Crude for February delivery closed down 66 cents at 95.67 dollars a barrel on the New York Mercantile Exchange. Earlier it rallied to an intraday high of 97.97 dollars but also fell to an intraday low of 95.42 dollars.

The U.S. government reported on Wednesday crude inventories dropped by 6.8 million barrels in the week ending Jan. 4, much more than expected by analysts.

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