Oil prices went back up even though an increase in inventories was announced, and OPEC said that there was no supply problem. Light, sweet crude went up 24 cents to US$54.23 a barrel, and heating oil fell to US$1.6040 a gallon (3.8 liters). A "Crude oil keeps rolling into key consuming markets, but refiners have been slow to convert it into enough gasoline and heating oil to rebuild product stocks. And tight product markets are helping soften downward price reactions to the crude stock builds," Energy Intelligence said. The U.S. imported the most crude of the year last week putting inventories at their highest since July 2002. According to a murdok | Breaking eBusiness News Your source for investigative ebusiness reporting and breaking news.
Oil Prices Rise Again
0 views
Comments (0)
Please sign in to leave a comment.
No comments yet. Be the first to comment!