Tuesday, July 17, 2007

Oil Trades Little Changed Amid Expectations of Rising U.S. Gasoline Stocks

(Bloomberg) -- Crude oil was little changed in New
York after retreating from an 11-month high yesterday on
speculation that U.S. gasoline supplies rose for a third week as
refiners increased output.

An Energy Department report today will probably show U.S.
gasoline inventories gained 850,000 barrels last week, according
to a Bloomberg News survey of 18 analysts. Gasoline futures fell
a fifth day yesterday, extending their decline to a three-month
low. Brent crude oil fell for a second day in London.


Read more at Bloomberg Energy News

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