Tuesday, June 19, 2007

Oil Is Steady After Stalling at Nine-Month High as U.S. Fuel Price Eases

(Bloomberg) -- Crude oil was little changed in New
York after stalling near a nine-month high yesterday as forecast
gains in U.S. fuel stockpiles and a prediction of an average
hurricane season pulled gasoline lower.

A U.S. Energy Department report today will probably show the
country's below-average gasoline stockpiles rose for a seventh
time last week as refiners increased output, according to a
survey of analysts. Ten tropical storms may form in the Atlantic
during the rest of this summer, U.K. government forecasters said
yesterday.


Read more at Bloomberg Commodities News

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