Tuesday, May 1, 2007

Oil Rises From Seven-Day Low on Expectation That Gasoline Inventories Fell

(Bloomberg) -- Crude oil rose from a seven-day low on expectation U.S. gasoline stockpiles fell last week as refiners shut units for repairs.

Gasoline stockpiles probably fell for a 12th week as fires and breakdowns hampered refiners' efforts to store fuel for summer, according to a Bloomberg News survey of analysts. Concern that supplies from Nigeria may be disrupted increased after six Chevron Corp. foreign oil workers were kidnapped and an oil field producing 15,000 barrels a day was shut.


Read more at Bloomberg Energy News

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