(Bloomberg) -- Crude oil was little changed, close to $64 a barrel in New York, amid speculation demand will climb as U.S. refiners increase operating rates to make gasoline for the summer months.
Refineries are bolstering output because the profit margin, or ``crack,'' for turning crude oil into gasoline and heating oil has more than tripled this year. Refineries operated at 88.4 percent of capacity last week, the highest since Jan. 5, the Energy Department said. Oil surged yesterday on an International Energy Agency report showing that world supplies fell last month.
Read more at Bloomberg Commodities News
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