Crude oil fell from a three week high after U.S. stock futures eased on weaker than expected company earnings, renewing concern the recovery from the global recession may falter. Oil has increasingly moved in tandem with the Dow Jones Industrial Average. The two are showing a correlation of 0.7 in the past month, up from 0.06 in the month to Dec. 31, according to data compiled by Bloomberg. U.S. gasoline and distillate fuel inventories climbed for a sixth week, signaling demand in the world’s largest energy user has been slow to rebound.....Complete Story
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