(Bloomberg) -- Crude oil rose, approaching a nine-
month high for a second day in New York, on expectations that
consumption will increase as refineries bolster gasoline output.
Prices climbed above $70 for the first time since September
yesterday after an Energy Department report showed that U.S.
gasoline, diesel and heating oil inventories fell last week as
refineries increased operating rates. Crude-oil supplies at
Cushing, Oklahoma, where oil traded in New York is delivered,
plunged 5.7 percent, the June 27 report showed.
Read more at Bloomberg Commodities News
month high for a second day in New York, on expectations that
consumption will increase as refineries bolster gasoline output.
Prices climbed above $70 for the first time since September
yesterday after an Energy Department report showed that U.S.
gasoline, diesel and heating oil inventories fell last week as
refineries increased operating rates. Crude-oil supplies at
Cushing, Oklahoma, where oil traded in New York is delivered,
plunged 5.7 percent, the June 27 report showed.
Read more at Bloomberg Commodities News
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