Friday, 11 May 2007

Crude Oil Rises on Concern U.S. Summer Gasoline Supplies May Be Disrupted

(Bloomberg) -- Crude oil was rose on concern that motor-fuel supplies may be disrupted this summer because of repairs at U.S. refineries and reduced oil output in Africa.

Repairs were announced yesterday at refineries in Texas and Delaware, curbing gasoline production. U.S. gasoline demand peaks during the summer driving season, which starts with the Memorial Day holiday at the end of this month. Total SA shut an oil field in the Republic of Congo after a fire yesterday. Nigerian output has been slashed over the past year because of militant attacks.


Read more at Bloomberg Energy News

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