Sunday, April 22, 2007

Crude Oil Trades Little Changed After Rising on U.S. Fuel Supply Concern

(Bloomberg) -- Crude oil was little changed in New York after rising late last week on signs a refinery strike in Belgium and output cuts by OPEC may restrict U.S. oil and fuel imports.

Workers at four refineries in Antwerp will strike from May 9 over a pay dispute, their union said April 20. European plants account for more than 70 percent of U.S. gasoline imports. Oil output by the Organization of Petroleum Exporting Countries will probably fall 0.3 percent to 30.6 million barrels a day in April, consultants PetroLogistics Ltd. said last week.


Read more at Bloomberg Energy News

No comments: