Friday, June 29, 2007

Oil Gains as U.S. Refineries Increase Output, Midwest Stockpiles Decline

(Bloomberg) -- Crude oil rose after supplies in the
U.S. Midwest fell to the lowest since March as refineries started
making more gasoline to meet summer demand.

Crude stockpiles in Cushing, Oklahoma, where the benchmark
West Texas Intermediate crude is priced, fell by 1.5 million
barrels last week, the Department of Energy said. Refineries
increased runs to 89.4 percent of capacity for the same week.


Read more at Bloomberg Energy News

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