Friday, 29 June 2007

Oil Gains as U.S. Refineries Increase Output, Midwest Stockpiles Decrease

(Bloomberg) -- Crude oil rose after supplies in the
U.S. Midwest fell to their lowest since March as refineries started
making more gasoline to meet summer demand.

Crude stockpiles in Cushing, Oklahoma, where the West Texas
Intermediate benchmark crude is priced, fell by 1.5 million barrels
last week, the Department of Energy said. Refineries increased runs
to 89.4 percent of capacity for the same week.


Read more at Bloomberg Commodities News

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