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Oil even despite OPEC news »

Posted by: STONERS 2 years, 8 months ago
Archived 18 0 drops

U.S. crude for May delivery slipped 5 cents cents to $63.58 in early electronic trade. London Brent crude, which hit a 2007 high on Friday, stood 48 cents higher at $69.11.

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Comments: 1
  • Avg rating: (+0/-0 0)STONERS
    STONERS
    April 16, 2007, 11:20 a.m.

    "In contrast to the current tightness in the gasoline market, global crude oil fundamentals appear to be largely in balance," the Organization of the Petroleum Exporting Countries said in its April monthly oil market report.

    "Given ample crude supplies, it is clear that increasing production would only serve to build crude oil inventories and would not resolve the tightness in the downstream."

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