Wednesday, April 11, 2007

Oil below $62, shrugs off U.S. gasoline stock drop

(Reuters) - U.S. crude was down 8 cents at $61.93 a barrel by 0352 GMT, after a 12-cent gain on Wednesday. London Brent had yet to trade ahead of its expiry on Friday, after closing at $67.84 on Wednesday.

The latest snapshot of U.S. inventory levels showed that gasoline stocks slid 5.5 million barrels last week, far more than a 1.4 million-barrel drop analysts had forecast and taking stocks nearly 5 percent below the same time last year .


Read more at Reuters.com Hot Stocks News

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