Oil Trades Little Changed on Forecast U.S. Fuel Stockpiles Rose

Crude oil traded little changed, poised for its biggest quarterly gain since 1990 before a report tomorrow expected to show an increase in U.S. gasoline stockpiles. Gasoline inventories in the U.S. probably climbed 2 million barrels in the week ended June 26 from 208.9 million the previous week as refineries increased production, a Bloomberg News survey showed. Oil fell back after climbing as much as 2.6 percent as a weaker dollar drove investors to commodities as a hedge against inflation and Nigerian rebels attacked oil installations.....Complete Story