Wednesday, July 1, 2009

Crude Oil Is Little Changed After Falling on Weak Fuel Demand

Crude oil traded little changed after falling in the past two days, as demand for gasoline and diesel in the U.S. remained weak during the recession. Fuel demand in the world’s largest energy user in the four weeks ended June 26 fell 5.8 percent from a year earlier, according to a Department of Energy report yesterday. Demand for distillate fuel including heating oil and diesel fell 9.4 percent to 3.4 million barrels a day during the period.....Complete Story

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