Wednesday, July 18, 2007

Crude Oil Trades Near 11-Month High After Drop in U.S. Gasoline Supplies

(Bloomberg) -- Crude oil was little changed in New
York after rising to the highest in more than 11 months
yesterday after U.S. gasoline inventories unexpectedly fell.

Supplies dropped by 2.24 million barrels last week after
imports plunged and demand reached a two-year high, the Energy
Department said yesterday. Gasoline production fell a second
week even as refiners used 91 percent of plant capacity, the
highest in seven weeks and more than forecast by analysts.


Read more at Bloomberg Energy News

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