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Oil retreats as petroleum stocks hit record high

Oil retreats as petroleum stocks hit record high

Write: Kenward [2011-05-20]
Oil prices declined on Thursday after a government report showed that total petroleum stocks rose to record-high levels and the dollar reversed against the euro.
Light, sweet crude for October delivery fell 42 cents to settle at 74.25 U.S. dollars a barrel on the New York Mercantile Exchange.