Monday, April 23, 2007

Crude Oil Trades Above $64 in New York on Supply Concern, Gasoline Demand

(Bloomberg) -- Crude oil traded for more than $64 a barrel in New York on concern supplies from Nigeria would be disrupted just as demand for gasoline was surging.

Nigeria is counting votes today after a presidential poll last week that's been criticized for fraud. Militant attacks in Nigeria, Africa's largest oil producer, have already cut about a quarter of its output. U.S. gasoline demand is climbing twice as fast as last year's and will accelerate when summer travel begins next month.


Read more at Bloomberg Energy News

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