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Energy Prices Fall As Investors Await Inventory News

MARKETSCOPE : Energy prices fell on Tuesday, as investors made their bets ahead of Wednesday's news about weekly inventories.

January West Texas Intermediate crude oil lost 86 cents to $56.50, December heating oil futures shed 2.59 cents to 160.97 cents, and December gasoline futures lost 2.02 cents to 139.80 cents.

Some short covering boosted prices briefly this morning as the current mild U.S. weather was forecasted to turn colder in the next few days.

January natural gas futures rose 10 cents to $11.74, after a Wall Street Journal report said Exxon Mobil, BP and Shell are shifting strategy and stepping up their hunt for natural gas in the continental U.S.

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