Oil near $93 ahead of US supply report

November 27, 2013 8:35 AM

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Oil near $93 ahead of US supply report

Oil is down from about $110 in October due to a muted outlook for demand, high supplies and reduced tensions in the oil rich Middle East.

Data for the week ending Nov. 22 is expected to show a decline of 1.5 million barrels in U.S. crude oil stocks and an increase of 1 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

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