Light sweet crude prices continued to slip on Wednedsay, with the contract down 36 cents at $55.28 a barrel in electronic trading. Oil prices fell as much as 3.9% on Tuesday to their lowest level since June 2005 but closed down 45 cents at $55.64 a barrel. Oil prices have lately been pressured by above-normal temperatures in the northeastern U.S. and expectations that supply data due later in the day will show the first increase in crude inventories in seven weeks.
MarketWatch
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