Thursday, May 10, 2007

Crude Oil Rises on Signs U.S. Gasoline Supply Is Insufficient for Summer

(Bloomberg) -- Crude oil and gasoline rose on concern that U.S. motor-fuel inventories aren't sufficient to meet demand during the summer driving season.

Gasoline supplies in the week ended May 4 were down 8 percent from the five-year average for the date, the Energy Department said yesterday. Inventories of the fuel rose 372,000 barrels, the first gain in 13 weeks. Eni SpA cut output at Nigeria's Brass crude oil export terminal by 98,000 barrels a day after a militant group attacked pipelines this week.


Read more at Bloomberg Commodities News

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