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Oil ends lower on Italy elections, crude supplies

Published on NewsOK Modified: February 26, 2013 at 2:28 pm •  Published: February 26, 2013

The Energy Department's weekly report on U.S. stockpiles of crude oil is due on Wednesday. Data for the week ending Feb. 22 are expected to show an increase of 2.6 million barrels in crude oil stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos. The nation's oil supplies are at the highest levels since the 1990's.

Gas pump prices stayed around a national average of $3.78 a gallon, up almost 4 cents from a week ago and about 44 cents higher than a month ago.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 6 cents to finish at $3.20 a gallon.

— Heating oil dropped 7 cents to end at $3.03 a gallon.

— Natural gas rose 1 cent to finish at $3.43 per 1,000 cubic feet.


Martin Crutsinger in Washington and Pablo Gorondi in Budapest contributed to this report.