31 August 2005, 16:17  Crude futures turn lower

Crude-oil futures for October delivery dipped below the $70 a barrel level where they had held steady overnight after Energy Secretary Samuel Bodman said the government plans to tap into the Strategic Petroleum Reserve. The contract was last trading down 20 cents at $69.59 a barrel. Unleaded gasoline futures for September delivery were up 4.8 cents, or 1.9%, at $2.5225 a gallon, off their early high of $2.57, a new alltime record level. The news also turned stock futures higher, with S&P 500 futures up 3.40 at 1,212 and Nasdaq 100 futures up 4.50 at 1,574.50.

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