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Energy Update: Crude Futures Down Over $4 After Fed Pares Growth Forecast

Crude oil futures are down sharply this morning, falling nearly $4 a barrel after the Federal Reserve yesterday pared its forecast for GDP growth in the U.S. The benchmark August contract appears to be trying to establish a perch above $91 a barrel while Brent crude is working to stay above $110 a barrel. Disappointing weekly U.S. jobless claims data released within the past hour also is pressuring crude.

AUG WTI Crude ( NY ) $91.57 -3.84

AUG Brent Crude (ICE) $109.51 -$4.70

AUG Natural Gas ( NY ) $4.310 -0.005

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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