Thursday, May 31, 2007

Crude Oil Declines on Expectations U.S. Will Report Gasoline Supply Gain

(Bloomberg) -- Crude oil fell before a government
report that's expected to show U.S. gasoline inventories climbed
for a fourth week.

Gasoline stockpiles increased 1.5 million barrels in the
week ended May 25, according to the median of responses by 15
analysts before today's Energy Department report. Gasoline
stockpiles increased 3.6 million barrels in the three weeks ended
May 18. Refiners typically boost motor-fuel output before the
peak-demand summer-driving season, which began last weekend.


Read more at Bloomberg Energy News

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