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Crude oil prices turned higher amid choppy trading as traders await the Energy Information Administration's inventory data.
Light sweet crude for December closed at $79.55, up 87 cents on the session. Prices touched as low as $77.81 after earlier reaching as high as $79.78.
The EIA report is due at 10:30 a.m. ET on Wednesday. Experts are forecasting an increase of 900,000 barrels in crude oil for the week ended October 23. Gasoline stockpiles are expected to drop 1 million barrels and distillates are predicted to drop 1.1 million barrels.
Last week's data crude oil inventories increased by 1.3 million barrels in the week ended October 16. Analysts expected a build of 2.2 million barrels.
Total motor gasoline inventories decreased by 2.3 million barrels last week, in line with expectations.
The dollar climbed to a two-week high against the euro, rising further away from the recently-seen 14-month low. The buck was lower amid choppy trading with the sterling and yen.
On the economic front, a Conference Board report showed that the consumer confidence index fell to 47.7 in October from a revised 53.4 in September. Economists had been expecting the index to edge up to 53.5 from the 53.1 originally reported for the previous month.
Earlier, the S&P/Case-Shiller Composite Home Price fell at an annual rate of 11.3 percent in August compared to a 13.3 percent decrease in July. Economists had been expecting the report to show an 11.9 percent drop in prices.
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