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NEW YORK (AP) - Crude-oil futures dropped Thursday to a three-month low and gasoline fell to the lowest level since July 1, as supply worries lessened.
Hurricane Wilma weakened to a Category 4 storm and remained on track to miss the Gulf of Mexico's energy resources. That, along with weak demand and rising supply, led traders to unwind bets on rising prices.
"It was a continuation of the recent bear trend," said Tom Bentz, analyst with BNP Paribas. "Gasoline markets led the way lower. Weaker demand and increasing stocks continue to weigh on prices."
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