(Bloomberg) -- Crude oil rose above $78 a barrel in
New York, the highest in more than a year, on speculation demand
will outpace supply as refiners increase fuel production in
preparation for the winter months.
An Energy Department report tomorrow may show that U.S.
crude-oil supplies fell for a fourth week, according to a
Bloomberg News survey of analysts. Demand tends to rise as
refineries begin to make fuels for use in the fall and winter.
Bets on rising prices by hedge funds and other speculators rose
to a record earlier this month, according to government data.
Read more at Bloomberg Energy News
New York, the highest in more than a year, on speculation demand
will outpace supply as refiners increase fuel production in
preparation for the winter months.
An Energy Department report tomorrow may show that U.S.
crude-oil supplies fell for a fourth week, according to a
Bloomberg News survey of analysts. Demand tends to rise as
refineries begin to make fuels for use in the fall and winter.
Bets on rising prices by hedge funds and other speculators rose
to a record earlier this month, according to government data.
Read more at Bloomberg Energy News
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