Wednesday, May 16, 2007

Oil Declines on Increased U.S. Gasoline Supply, End of Protest in Nigeria

(Bloomberg) -- Crude oil fell after U.S. gasoline supplies rose and a report that protesters in Nigeria left a facility run by Royal Dutch Shell Plc.

Gasoline inventories rose 1.76 million barrels to 195.2 million barrels last week, the Energy Department report showed. The protesters will let Shell open the facility and restore lost output amounting to 170,000 barrels a day, Reuters reported. Shell yesterday said deliveries in May and June would be delayed because of the incident.


Read more at Bloomberg Energy News

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