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Oil prices jump after crude supplies drop again
Posted on June 11, 2008
Light, sweet crude spiked up $3.06 at $134.37 a barrel on the New York Mercantile Exchange. In London, Brent crude rose $2.06 to $133.08. Crude supplies dropped to 302.2 million barrels, down 4.6 million barrels, for the week ended June 6, according to the Energy Department. They've fallen a total of 23.6 million in four weeks, MarketWatch reports. Distillate stocks were up 2.3 million barrels at 114 million barrels. However, gasoline supplies rose 1 million barrels to 210.1 million barrels. Refinery utilization was at 88.6% compared with 89.7% of capacity a week earlier. ...
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