Oil Prices Up After Seven Days of Losses
Oil prices rose Wednesday, reversing seven straight days of declines after the U.S. government reported a decrease in the nation's crude inventories.
Crude futures stayed under $64 a barrel, though, due to a large rise in heating oil inventories and the perception among traders that threats to supplies - ranging from Atlantic hurricanes to Middle East politics - have eased.
U.S. crude inventories fell 2.6 million barrels to 327.7 million barrels last week, according to the federal Energy Information Administration. They're still 5.6 percent above year-ago levels and above the upper end of the average range for this time of year.
story continued
Crude futures stayed under $64 a barrel, though, due to a large rise in heating oil inventories and the perception among traders that threats to supplies - ranging from Atlantic hurricanes to Middle East politics - have eased.
U.S. crude inventories fell 2.6 million barrels to 327.7 million barrels last week, according to the federal Energy Information Administration. They're still 5.6 percent above year-ago levels and above the upper end of the average range for this time of year.
story continued
posted by anthony m, at Wednesday, September 13, 2006
0 Comments:
Post a Comment
<< Home