Crude futures hit an all-time above $79 as U.S. supplies drop

11:51 am ET Sep 12, 2007

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Crude futures hit an all-time above $79 as U.S. supplies drop

SAN FRANCISCO
Crude-oil futures climbed into uncharted territory above $79 a barrel
Wednesday after U.S. government data showed that crude supplies dropped
more than 7 million barrels and motor gasoline inventories fell a sixth
week in a row.

Market Snapshot: U.S. stocks tilt higher as investors look to Fed move

NEW YORK
Stocks on Wednesday reversed into positive territory as thoughts of an
interest-rate cut by the Federal Reserve at or ahead of Tuesday's
policy-setting meeting countered a reduced forecast from Texas
Instruments Inc., the world's largest maker of cell-phone chips.

Currencies: Dollar hits record low vs. euro on expectations for U.S.
rate cut

SAN FRANCISCO
The dollar marked a new record low against the euro Wednesday amid
growing expectations that the Federal Reserve will cut U.S. interest
rates next week.