Friday, May 11, 2007

Crude Oil Is Little Changed Amid Concern Gasoline Supply Is Insufficient

(Bloomberg) -- Crude oil was little changed amid concern that motor-fuel supplies may be disrupted this summer because of repairs at U.S. refineries and reduced oil output in Africa.

Repairs were announced yesterday at refineries in Texas and Delaware, curbing gasoline production. U.S. gasoline demand peaks during the summer driving season, which starts with the Memorial Day holiday at the end of this month. Total SA shut an oil field in the Republic of Congo after a fire yesterday. Nigerian output has been slashed over the past year because of militant attacks.


Read more at Bloomberg Commodities News

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