Friday, June 29, 2007

Oil above $71 on drop in US fuel stocks

(Reuters) - Oil rose above $71 a barrel on Friday as investors focused on falling gasoline inventories in top consumer the United States and a regional drop in crude stocks.

A U.S. government report on Wednesday showed gasoline stocks fell 700,000 barrels last week and crude inventories at Cushing, Oklahoma, the delivery point for the U.S. crude benchmark, dropped 1.4 million barrels.


Read more at Reuters Africa

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