Wednesday, May 2, 2007

Crude Oil Declines on Expectations U.S. Will Report an Increase in Supply

(Bloomberg) -- Crude oil fell in New York before a report due today that will probably show U.S. crude supplies rose to a five-month high.

The Energy Department is expected to report stockpiles rose 1.5 million barrels, according to a Bloomberg News survey of analysts. At the same time, refinery utilization rates are expected to increase and help meet demand for gasoline before the summer driving season starts this month.


Read more at Bloomberg Energy News

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