Oil Is Steady, Close to One-Year High, on Expectations of Supply Shortfall

(Bloomberg) -- Crude oil was little changed, close
to a one-year high, amid speculation that consumption will
increase faster than production this year.

Crude-oil in New York rose 1.6 percent last week as a U.S.
government report showed the nation's economy expanded 3.4
percent last quarter, the fastest pace in more than a year.
Prices fell earlier today on concern that falling stock prices
would curb economic growth and energy demand.


Read more at Bloomberg Energy News