Monday, October 29, 2007

Crude Oil Falls Below $93 on Speculation Stockpiles May Rise

By Christian Schmollinger


Oct. 30 (Bloomberg) -- Crude oil fell from a record on speculation that a U.S. government report this week will show an increase in stockpiles in the world's largest energy consumer.

Crude oil for December delivery declined as much as 68 cents, or 0.7 percent, to $92.85 a barrel in after-hours trading on the New York Mercantile Exchange. It was at $92.87 at 9:08 a.m. Singapore time.

Brent crude oil for December settlement dropped as much as 60 cents, 0.7 percent, to $89.72 a barrel on the London-based ICE Futures Europe exchange. It was at $89.83 at 8:58 a.m. Singapore time.

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