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		<title><![CDATA[Crude Oil Futures Trading Forum by Live Oil Prices - Brent oil futures trading around $67 as stocks grow]]></title>
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		<description><![CDATA[The most recent posts in Brent oil futures trading around $67 as stocks grow.]]></description>
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			<title><![CDATA[Brent oil futures trading around $67 as stocks grow]]></title>
			<link>http://www.liveoilprices.co.uk/forum/post327.html#p327</link>
			<description><![CDATA[The price of oil has dropped sharply after figures showed a big rise in US oil stockpiles and falling orders for American manufactured goods, with brent crude oil futures trading around $67 dollars per barrel on Thursday morning.

US light crude fell $3.88, almost 6%, to $63.35 a barrel. London Brent dropped $3.64 to $66.24 a barrel. A rise in US oil stocks of 5.1m barrels was unexpected, as was the sharp fall of 2.5% in orders in June for durable manufactured goods at US factories.

The recent strong run in stock markets had pushed the oil price higher, but this run in stock prices seems to have come to an end this week.

"The build [in supplies] this week will put more pressure on oil, especially given that we were already seeing return of risk aversion across markets, with the US dollar climbing and the stock market lower," said Rachel Ziemba at RGE Monitor.

The rise in inventories of oil shows how much unwanted oil is in storage, reflecting a big fall in crude oil demand.]]></description>
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			<pubDate>Thu, 30 Jul 2009 07:07:48 +0000</pubDate>
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