Thursday, July 12, 2007

Oil Rises in New York After U.S. Crude Inventories Drop on Lower Imports

(Bloomberg) -- Crude oil rose to more than $73 a
barrel in New York after the U.S. government reported supplies of
oil dropped because of a decline in imports.

Crude-oil stockpiles dropped 1.5 million barrels to 352.6
million barrels last week, according to the U.S. Energy Department.
Imports fell 7 percent to an average 10 million barrels a day, the
lowest since the week ended April 13.


Read more at Bloomberg Energy News

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