Oil ends lower as Iran set to free U.K. troops; gas prices rally

4:30 pm ET Apr 4, 2007

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Oil ends lower as Iran set to free U.K. troops; gas prices rally

SAN FRANCISCO
Crude-oil futures closed lower Wednesday after Iranian President Mahmoud
Ahmadinejad said he would release 15 U.K. Navy personnel being held
captive by Tehran, apparently ending a diplomatic crisis that had raised
investor concerns about oil supplies in the region.

Market Snapshot: U.S. stocks close slightly higher after weak data; oil
drops

NEW YORK
U.S. stocks rose slightly on Wednesday, after a raft of economic reports
- on the service-sector, employment and factory orders -- came in
weaker-than-expected and tempered an earlier boost from falling crude
oil prices.

The Fed: Subprime sector woes have Fed's attention: Fisher

WASHINGTON
The damage to the financial system from the woes in the market for
riskier types of mortgages is largely contained but bears close
scrutiny, said Richard Fisher, the president of the Dallas Fed bank, on
Wednesday.