Oil Trades Near Five-Month High on Fuel Stockpile Drop, Dollar
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Oil traded near a five-month high before a government report today that may show U.S. fuel supplies are dropping faster than forecast, while a weaker dollar increased the appeal of commodities.
An Energy Department report today may show U.S. gasoline stockpiles slipped 250,000 barrels last week, according to a Bloomberg News survey. The industry-funded American Petroleum Institute said yesterday inventories of the motor fuel dropped