(Bloomberg) -- Crude oil plunged more than $1 and
gasoline fell in New York on speculation that U.S. refineries
will increase production of the motor fuel to meet peak demand
during the summer driving season.
U.S. gasoline supplies rose 1.2 million barrels last week,
according to the median of responses by 17 analysts surveyed by
Bloomberg News before an Energy Department report tomorrow.
Refineries probably operated at 90 percent of capacity, up 0.5
percentage point from the week before. BP Plc shut about one
quarter of its Prudhoe Bay oil field in Alaska, a spokesman said.
Read more at Bloomberg Commodities News
gasoline fell in New York on speculation that U.S. refineries
will increase production of the motor fuel to meet peak demand
during the summer driving season.
U.S. gasoline supplies rose 1.2 million barrels last week,
according to the median of responses by 17 analysts surveyed by
Bloomberg News before an Energy Department report tomorrow.
Refineries probably operated at 90 percent of capacity, up 0.5
percentage point from the week before. BP Plc shut about one
quarter of its Prudhoe Bay oil field in Alaska, a spokesman said.
Read more at Bloomberg Commodities News
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