Wednesday, August 5, 2009

Crude Oil Rises After Report Shows U.S. Fuel Demand Increase


Crude oil rose after a U.S. government report showed that fuel supplies dropped as consumption increased to the highest level since February. Fuel demand climbed 3.1 percent to 19.3 million barrels a day last week, the highest since the week ended Feb. 27, the Energy Department said today. Supplies of distillate fuel, a category that includes heating oil and diesel, fell 1.14 million barrels to 161.5 million. Gasoline stockpiles declined and crude oil inventories climbed. “The market is getting support from the demand number, particularly the increase in distillate demand,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.....Complete Story

For a free online tour of MarketClub, a risk FREE 30 day test drive...Just Click Here

1 comment:

Anonymous said...

Nothing is free in life. Our site consolidates the prices of quality delivery companies covering your zip code. This allows you to purchase the lowest priced fuel available in the marketplace. This platform allows the consumer to choose the most efficient supplier on a given date. Average savings of 20% of your oil bill with each order.Yes i am very much agree with Blogger that crude oil raises after U.S. fuel increase and with this Current Heating Oil Prices