Oil falls as supplies expected to increase

Published April 3, 2013 9:34am ET



BANGKOK (AP) — The price of oil fell Wednesday ahead of the release of a report expected to show crude supplies still burgeoning.

Benchmark oil for May delivery was down 32 cents to $96.88 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 12 cents to finish at $97.19 on Monday, buoyed by strong reports on U.S. auto sales and factory orders.

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