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Oil steadies around $64, gasoline supports »

Posted by: STONERS 2 years, 7 months ago

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Oil steadied above US$64 a barrel on Thursday, drawing support from a big drop in U.S. gasoline inventories ahead of peak summer demand in the world's top consumer.

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STONERS
April 5, 2007, 1 p.m.
The drop in gasoline stocks reported in U.S. government data on Wednesday, and a rally in other commodities such as nickel, offset the impact of oil producer Iran's release of 15 British sailors and marines.
"People are still talking about the statistics and strength in commodities," said Christopher Bellew, an oil futures broker at Bache Financial in London.
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zplan
April 5, 2007, 9:38 p.m.
I'm still trying to come to terms with how a high- demand product was about $4 a barrel in the early '70's. What in the world could it be?