(Bloomberg) -- Crude oil rose after a U.S. government
report showed refineries cut their operating rates, raising concern
fuel supplies may fall short of demand this summer.
U.S. refiners used 89.2 percent of their plant capacity last
week, the lowest since May 4 and the lowest rate in 15 years for
that time of year. Iran, the Middle East's second-largest producer
of crude, is advancing its nuclear research, which has been opposed
by the U.S. and allies.
Read more at Bloomberg Energy News
report showed refineries cut their operating rates, raising concern
fuel supplies may fall short of demand this summer.
U.S. refiners used 89.2 percent of their plant capacity last
week, the lowest since May 4 and the lowest rate in 15 years for
that time of year. Iran, the Middle East's second-largest producer
of crude, is advancing its nuclear research, which has been opposed
by the U.S. and allies.
Read more at Bloomberg Energy News
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