--COMMODITIES: Dec 2013 Oil (WTI) Contract Down 0.3% in Electronic Trade

By MidnightTrader.com Staff,

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Crude oil futures contracts are slightly lower on Thursday, on reports of big U.S. supply from the governments Energy Information Administration yesterday.

On a note indicating more world supply, Libya's Sharara field may restart within 10 days, Salah A. Ben Ali, manager of international cooperation at the Oil and Gas Ministry, said today at a conference in Singapore.

Another factor weighing on the market, the U.S. currency climbed after the Federal Reserve in its statement on Wednesday indicated it still has plans to roll back monetary stimulus, adding pressure on dollar-denominated commodities such as oil.

Crude for December delivery (CLZ3.NYM) fell 31 cents or 0.3% to $96.46.

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This article appears in: Investing Commodities
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