Monday, June 4, 2007

Crude Oil Advances on Increased Fuel Consumption, Nigeria Supply Concern

(Bloomberg) -- Crude oil rose on signs high prices
aren't slowing the growth of fuel demand and that supplies from
Nigeria may be further disrupted.

Total implied fuel demand in the U.S. averaged 20.9 million
barrels in the four weeks ended May 25, up 2.4 percent from the
same period a year earlier, according to the Energy Department.
The department measures shipments from refineries, pipelines and
terminals to calculate demand. Union officials in Nigeria's oil
and gas industry said they plan to support a general strike.


Read more at Bloomberg Energy News

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