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Oil sinks to four-month low; gold, silver slip

The Associated Press

The price of oil is the lowest since late June on ample U.S. supplies and poor demand.

Precious metals edged lower and crop prices rose.

Crude for December delivery fell $1.44 to $96.86 a barrel in New York Wednesday. Oil has fallen 5 percent over the last week.

The government reported that U.S. crude oil inventories rose by 5.2 million barrels over the past week.

Gold for December delivery fell $8.60 to $1,334 an ounce. Silver fell 17.3 cents to $22.617 an ounce.

In agricultural futures, December corn rose 4.5 cents, or 1 percent, to $4.4275 a bushel. November soybeans rose 7.75 cents, or 0.6 percent, to $13.10 a bushel and December wheat edged up 1 cent to $7.0175 a bushel.