Tuesday, June 5, 2007

Crude Oil Is Steady on Speculation U.S. Stockpiles Are Enough for Summer

(Bloomberg) -- Crude oil was little changed in New
York after falling with gasoline yesterday on speculation U.S.
inventories are sufficient to meet peak summer demand.

An Energy Department report today will probably show below-
average U.S. gasoline stockpiles rose 1.6 million barrels last
week, their fifth gain, as refiners increased output, according
to a Bloomberg News survey of 14 analysts. Gasoline fell to a
four-week low and the discount in U.S. oil prices to Brent
futures widened to one-week high.


Read more at Bloomberg Energy News

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