Sunday, July 8, 2007

Crude Oil Trades Near 10-Month High on U.S. Gasoline Demand, Nigeria Risk

(Bloomberg) -- Crude oil was little changed in New
York near a 10-month high on concern gasoline supplies in the U.S.
may be insufficient during the peak summer demand period and
unrest in Nigeria may disrupt shipments.

U.S. gasoline stockpiles are 3.5 percent below their five-
year average, the Energy Department said July 5, raising concern
that inventories aren't enough to counter potential shocks such
as the approaching hurricane season in the Gulf of Mexico.
Militants in Nigeria, Africa's biggest oil producer, released a
3-year-old British girl, the U.K. Foreign Office said yesterday.


Read more at Bloomberg Energy News

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