I Missed This, Sorry ---- Steep Drop in US Oil Stockpiles
From Rigzone:
Oil futures prices rose to their highest level in three months
Wednesday following a report of a steep drop in U.S. oil stockpiles and
fresh tensions in the Middle East.
Light, sweet crude for September delivery settled 90 cents, or 1%,
higher at $94.33 a barrel on the New York Mercantile Exchange, the
highest finish since May 14. Brent crude on the ICE futures exchange
recently rose $2.20, or 1.9%, to $116.23 a barrel.
Crude futures jumped from earlier losses after the Energy
Information Administration said U.S. oil stockpiles fell 3.7 million
barrels last week. The drop was well above the 1.9 million-barrel-draw
forecast by analysts surveyed by Dow Jones Newswires, and came as U.S.
demand for gasoline rose to a 13-month high.
And then this:
The demand jump comes as a surprise...
Okay.
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