Tuesday, April 17, 2007

Oil Climbs in New York on Expected Demand Boost; Refineries Raise Output

(Bloomberg) -- Crude oil rose as some analysts expect U.S. refineries to raise fuel production to meet growing demand ahead of the summer driving season.

A government report tomorrow may show U.S. gasoline supplies fell the least in 10 weeks as refining reached a 14-week high, according to a Bloomberg News survey. Gasoline reached an eight- month high on April 13, after refinery breakdowns and above- average demand cut U.S. fuel stockpiles by 12 percent. Gasoline futures fell 2.9 percent yesterday.


Read more at Bloomberg Energy News

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