Created: 10/1/2009 7:13:01 AM 
SINGAPORE (AP) -- Oil prices fell below $70 a barrel Thursday in Asia after surging overnight on signs U.S. gasoline demand may be improving.
Benchmark crude for November deliver was down 72 cents at $69.89 by midday in Singapore in electronic trading on the New York Mercantile Exchange.
The contract jumped $3.90 to settle at $70.61 on Wednesday after the Energy Information Administration said U.S. gasoline stockpiles unexpectedly dropped 1.6 million barrels last week from the previous week.
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