Wednesday, May 16, 2007

Oil Falls on End of Nigerian Protest, Expectation of U.S. Fuel Supply Gain

(Bloomberg) -- Crude oil fell on a report that protesters in Nigeria left a facility run by Royal Dutch Shell Plc. and signs that U.S. fuel supplies increased.

The protesters will let Shell open the facility and restore lost output amounting to 170,000 barrels a day, Reuters reported. Shell yesterday said deliveries in May and June would be delayed because of the incident. An Energy Department report today is expected to show that stockpiles rose last week as refineries ramped up fuel output.


Read more at Bloomberg Energy News

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