Wednesday, July 1, 2009

Oil and Gasoline Fall on Bigger Than Forecast Fuel Supply Increase

Crude oil and gasoline fell after a U.S. government report showed that fuel supplies in the world’s biggest energy consuming country rose more than forecast. Gasoline stockpiles increased 2.33 million barrels to 211.2 million in the week ended June 26, the Energy Department said. Inventories were estimated to rise by 2 million barrels, according to a Bloomberg News survey. Stockpiles of distillate fuel, a category that includes diesel and heating oil.....Complete Story

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