Thursday, June 28, 2007

Oil Climbs to Nine-Month as Refineries Increase Output to Meet Fuel Demand

(Bloomberg) -- Crude oil rose to a nine-month high
in New York as U.S. refineries increased output of gasoline and
other fuels.

Refineries operated at 89.4 percent of capacity last week, a
1.8 percentage point gain from the week before, an Energy
Department report showed yesterday. West Texas Intermediate crude
oil, or WTI, the grade traded in New York, was at the lowest
discount to Brent oil in more than three months today.


Read more at Bloomberg Energy News

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