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Crude fluctuated as gasoline declined for the first time in six days on estimates that a supply shortage in New York Harbor will ease and as the euro strengthened against the dollar.
Prices were little changed as gasoline pared last week’s 14 percent gain. The euro advanced amid speculation Spain will seek a bailout. Oil supplies probably rose for the third time in four weeks through Sept. 28, a Bloomberg survey showed before a government report tomorrow. Spanish Economy Minister Luis de Guindos said yesterday after a meeting with Olli Rehn, the European Union’s economic and monetary affairs commissioner, that the country is studying the ECB bond-buying proposal.
Crude for November delivery slid 27 cents, or 0.3 percent, to $92.21 a barrel at 10:57 a.m. on the New York Mercantile Exchange. Prices are down 6.7 percent this year.
Brent for November settlement fell 26 cents to $111.93 a barrel on the London-based ICE Futures Europe exchange.
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