Thursday, May 31, 2007

Crude Oil Declines After U.S. Gasoline Inventories Climb for Fourth Week

(Bloomberg) -- Crude oil fell on a government
report that showed U.S. gasoline supplies increased for a
fourth straight week as imports surged during the run-up to the
summer driving season.

Gasoline stockpiles rose 1.36 million barrels to 198 million
barrels in the week ended May 25, the Energy Department reported
today. A gain of 1.5 million barrels was expected, according to
the median of responses by 15 analysts. The U.S. imported an
average 1.61 million barrels of gasoline a day last week, the
highest since the week ended May 19, 2006, the report showed.


Read more at Bloomberg Commodities News

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