|
|
Article: Oil prices rise to near US$97 a barrel ahead of US fuel supply data
- Article from:
- AP Worldstream
- Article date:
- January 9, 2008
- Author:
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Oil prices rose Wednesday amid expectations a U.S. government report will show crude oil stockpiles fell last week.
Prices were also supported by fears of further violence in Nigeria, the world's eighth-largest oil producer
Analysts surveyed by Dow Jones Newswires predict crude inventories likely fell 800,000 barrels last week, while supplies of distillates, which include heating oil, likely fell 300,000 barrels. The U.S. Energy Department's Energy Information Administration will release the report later Wednesday.
"That would be the eighth consecutive week of crude oil stock draws and U.S. crude oil inventories are already below the five year average for this ...