ResourceInvestor.com is a free service to investors, financial professionals and other stakeholders who participate in the mining, drilling and piping sectors. It provides unique independent news, analysis, commentary and analytics on the sectors with the goal of empowering readers with information from which they can gain advantage or profit.
Visit Resource Investor - Blog
Crude jumps again on lower inventories, lower dollar
Posted on May 21, 2008
Light, sweet crude for July delivery is up $1.10 at $130.08 a barrel on the New York Mercantile Exchange. In early trading, crude-oil futures climbed past $132 a barrel, according to MarketWatch. The Energy Department reported Wednesday that crude supplies fell by 5.4 million barrels to 320.4 million for the week ended May 16. Motor gasoline supplies also fell 800,000 barrels to 209.4 million barrels, although distillate stocks were up 700,000 barrels at 107.8 million barrels. Wednesday in New York, the euro was at $1.5752 from $1.5665 late Tuesday, while the dollar was at 103.35 yen from 103....
Original article link
Subscribe to Resource Investor - Blog