Tuesday, April 17, 2007

Oil Rises as Report May Show a Further Drop in U.S. Gasoline Inventories

(Bloomberg) -- Crude oil rose in New York on speculation that an Energy Department report tomorrow will show that U.S. gasoline supplies fell for a 10th week.

Gasoline stockpiles likely declined 1.63 million barrels in the week ended April 13, according to the median of forecasts by 10 analysts surveyed by Bloomberg News. U.S. refiners increase operating rates at this time of year as they prepare for peak demand during the summer months.


Read more at Bloomberg Energy News

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