(Bloomberg) -- Crude oil rose above $78 a barrel in
New York, nearing a record, on speculation demand will outpace
supply as refiners increase fuel production in preparation for
the winter.
Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. World demand climbs to an annual
peak as refineries begin to make fuels for use in the fall and
winter. A government report tomorrow may show U.S. oil supplies
fell for a fourth week, according to a Bloomberg News survey.
Read more at Bloomberg Commodities News
New York, nearing a record, on speculation demand will outpace
supply as refiners increase fuel production in preparation for
the winter.
Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. World demand climbs to an annual
peak as refineries begin to make fuels for use in the fall and
winter. A government report tomorrow may show U.S. oil supplies
fell for a fourth week, according to a Bloomberg News survey.
Read more at Bloomberg Commodities News
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