Oil prices bounce back near $86

Oil   Oil
By Chris Kahn on July 11, 2012

NEW YORK (AP) — The price of oil rose more than 2 percent Wednesday after the Federal Reserve released a report that signaled it may take further steps to lift the U.S. economy.

China also reported strong auto sales for last month, and the U.S. said crude supplies declined last week by a much larger amount than what analysts expected.

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oil prices
Brent crude
OPEC
Organization of Petroleum Exporting Countries
Federal Reserve
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