Oil weak ahead of supply, economic reports - CNNMoney.com

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Futures fall below $78 a barrel as investors await supply data, economic reports and the Federal Reserve's statement.

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NEW YORK (CNNMoney.com) -- Oil prices fell Tuesday as traders await reports on U.S. inventory levels and key economic data due out later in the week. December crude was down 97 cents at $77.16 a barrel. Oil ended Monday's volatile session 1% higher.

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