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ProShares Ultra Bloomberg Crude Oil Message Board

  • cashaccountscannotbeshorted cashaccountscannotbeshorted Dec 22, 2011 9:46 AM Flag

    Nymex Crude Settles $1.43 Higher at $98.67/Bbl,

    The Largest Weekly Drop in More than a Decade.


    For a second day in a row, the price of crude was up.

    --Crude surged on largest weekly stockpile drop since March, 2001.

    Crude futures surged Wednesday after a government report showed a giant decline in U.S. oil stockpiles.

    The U.S. Energy Information Administration said U.S. crude inventories fell by 10.6 million barrels last week, the largest weekly drop in more than a decade.

    While crude stocks often fall at the end of the year, the size of the drop surprised analysts, who had expected a 2.4-million-barrel decline.

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