(Bloomberg) -- Crude oil fell from a nine-month high
on speculation that U.S. fuel supplies will increase for a sixth
straight week and as Cyclone Gonu weakened after threatening the
Persian Gulf.
U.S. gasoline inventories rose 4.4 percent in the past five
weeks, the Energy Department said. U.S. refiners maximize output
of the fuel at this time of year to meet peak demand. Gonu is
dissipating after sweeping across coastal Oman and Iran. Oman's
ports, including its oil-export terminal at Mina al-Fahal, opened
today for partial operations, Gulf Agency Co. reported.
Read more at Bloomberg Commodities News
on speculation that U.S. fuel supplies will increase for a sixth
straight week and as Cyclone Gonu weakened after threatening the
Persian Gulf.
U.S. gasoline inventories rose 4.4 percent in the past five
weeks, the Energy Department said. U.S. refiners maximize output
of the fuel at this time of year to meet peak demand. Gonu is
dissipating after sweeping across coastal Oman and Iran. Oman's
ports, including its oil-export terminal at Mina al-Fahal, opened
today for partial operations, Gulf Agency Co. reported.
Read more at Bloomberg Commodities News
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