Friday, May 11, 2007

Crude Oil Rises on Concern Gasoline Supplies May Be Insufficient in U.S.

(Bloomberg) -- Crude oil rose on 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 attacks.


Read more at Bloomberg Commodities News

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