Tuesday, June 26, 2007

Oil Trades Near Nine-Day Low on Forecasts for Rising U.S. Gasoline Stocks

(Bloomberg) -- Crude oil was little changed in New
York after falling to a nine-day low yesterday as forecasts for
an eighth weekly increase in U.S. motor-fuel supplies pushed
gasoline 2.4 percent lower.

An Energy Department today will probably show U.S. gasoline
stockpiles gained 1 million barrels last week as refiners raised
output, according to a Bloomberg News survey of 15 analysts. A
record 41.1 million Americans, 0.8 percent more than a year ago,
may travel next week for the Independence Day holidays,
according to an AAA survey published yesterday.


Read more at Bloomberg Energy News

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