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The price of oil fell 2 percent this week, as oil traders worried about global demand and shared the stock market's concerns about possible changes to the Federal Reserve economic stimulus program.
The price of oil fell near $94 a barrel Wednesday as the nation's oil supply fell less than expected and demand for gasoline remained weak.
The price of oil fell Tuesday as investors waited for the Federal Reserve's latest views on the U.S. economy.
The price of oil rose to $96 a barrel on Friday on hopes that a steady recovery in the U.S. economy could boost fuel use.
The European Union's executive arm, the Commission, on Tuesday said it had raided the offices of a number of oil industry companies for possible price-fixing.
The price of oil slid by nearly $1 a barrel Tuesday as the International Energy Agency raised its forecast for U.S. oil production while cutting its prediction for global crude demand.
The price of oil fell to near $95 a barrel on Monday, as the dollar continued to strengthen against the yen and other major currencies.