Crude Oil Rises From One-Week Low on Concerns Over U.S. Gasoline Supplies

(Bloomberg) -- Crude oil rose from a one-week low in
New York on speculation U.S. refiners will have to increase fuel
production to restore stockpiles and meet peak summer demand.

Gasoline futures jumped 2 percent yesterday after Valero
Energy Corp. and ConocoPhillips cut production at plants in
Louisiana and Texas. Motor-fuel stockpiles in the U.S., the
world's biggest oil consumer, climbed to 196.7 million barrels
last week, 7 percent less than the seasonal average.


Read more at Bloomberg Commodities News