Monday, April 16, 2007

Oil Falls on Signs U.S. Inventories Are Adequate to Meet Gasoline Demand

(Bloomberg) -- Crude oil fell on speculation that U.S. inventories are adequate to meet increased demand from refiners making gasoline for the summer months.

Crude oil for May delivery fell 39 cents, or 0.6 percent, to $63.24 a barrel at 10:07 a.m. on the New York Mercantile Exchange. Prices are down 9.5 percent from a year ago.


Read more at Bloomberg Energy News

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