UPDATED:
12/21/2011 4:40:00 AM
Write a Letter to the Editor
Tweet
Print This
Larry Smith/Trans Pixs
Oil rose for a third day Wednesday as a Department of Energy report showed crude inventories plunged last week, Bloomberg reported.
Crude futures rose $1.50 to $98.72 a barrel following DOE’s report that showed supplies fell by 10.6 million barrels last week.
It was the biggest inventory decline in a decade, Bloomberg said.
Gasoline supplies fell 400,000 barrels last week, while distillate supplies, which include diesel, fell by 2.4 million barrels, DOE said in its weekly report.
After closing at a six-week low Friday of $93.53 on the New York Mercantile Exchange, oil rose slightly on Monday and more than $3 Tuesday to $97.22, Bloomberg figures showed.
Follow Transport Topics on RSS Twitter Facebook
Tweet
Print This
© 2011, Transport Topics Publishing Group. All rights reserved.
RELATED ARTICLES
Diesel Hit $4 a Gallon in 2011 (12/26/2011 2:45:00 AM)
Oil Rises for Third Day as Crude, Diesel Inventories Decline (12/21/2011 4:40:00 AM)
Oil Remains Under $95 a Barrel (12/19/2011 9:00:00 AM)
Three New Projects Promise to Lift Truck/Rail Oil Transport (12/19/2011 2:00:00 AM)
Diesel Drops to $3.894; Gas Price Down by 0.4¢ (12/19/2011 1:45:00 AM)
Oil Drops $5 to Below $95 a Barrel (12/14/2011 4:00:00 PM)
