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Federal Reserve Latest News: Oil Rises as Market Weighs Supply Report, Bernanke

The price of oil fluctuated as investors assessed the latest report on U.S. oil and gasoline supplies and statements from the chairman of the Federal Reserve on U.S. monetary policy. Chairman Ben Bernanke says markets are more stable now that investors better understand the Federal Reserve's guidance on when it might start reducing its bond purchases. Federal Reserve Chairman Ben Bernanke said the U.S. central bank still expects to start scaling back its massive bond purchase program later this year, but he left open the option of changing that plan if the economic outlook shifted.
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