Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Crude prices slip on gasoline buildup
+ -
09:54, June 25, 2009

 Related News
 Crude prices rebound on weaker
 Crude prices end higher on hopes of rising demand
 Crude prices rebound on larger-than-expected U.S. inventory decline
 Crude prices slip as dollar rebounds, equity drops
 Crude prices retreat as dollar strengthens
 Comment  Tell A Friend
 Print Format  Save Article
Oil prices slipped on June 24 as U.S. gasoline inventory rose more than predicted, raising concern that the recovery in fuel demand was not as strong as previously expected.

Light, sweet crude for August delivery dropped 57 cents to settle at 68.67 dollars a barrel on the New York Mercantile Exchange.

According to the U.S. Energy Department's Energy Information Administration (EIA), crude stockpiles dropped by 3.8 million barrels for the week ended June 19, however gasoline inventories increased by 3.9 million barrels, much more than analysts' expectation of one-million-barrel buildup.

Further pressure came as the dollar rose sharply against a basket of currencies after the Federal Reserve said the economy would "remain weak for some time" in its statement, despite the fact that the central bank indicated no major changes in the monetary policy.

In London, Brent crude for August delivery fell 47 cents to 68.33 dollars a barrel on the ICE Futures exchange.  


  Your Message:   Most Commented:
India's unwise military moves
Veiled threat or good neighbor?
China slams Clinton's June 4 comments
13 more bodies from Air France flight 447 recovered
To Be or Not To Be-- reflourishing bicycle in China

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved