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US oil inventories down by 800,000 barrels
2007-11-07 07:50:08 AFP

WASHINGTON, Nov 7, 2007 (AFP) - US crude oil inventories fell by 800,000 barrels in the past week to 311.9 million barrels, government data showed Wednesday amid a record run for futures prices.

Crude futures advanced 1.40 dollars on the New York Mercantile Exchange after the news to trade at 98.10 dollars a barrel as prices headed toward the symbolically important 100-dollar level.

The keenly awaited snapshot on stockpiles from the Department of Energy showed a mixed picture for refined products.

Gasoline reserves fell by 800,000 barrels to 194.3 million while levels of distillates including heating oil rose 100,000 barrels to 135.4 million.

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