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Home >> Business
UPDATED: 11:29, May 03, 2007
Crude prices decline on U.S. stockpiles
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Crude prices declined Wednesday in defiance of higher U.S. crude stockpiles.

The Energy Department's Energy Information Administration's weekly inventory report showed crude oil stocks rose by 1.1 million barrels last week, in line with expectations.

While distillate fuel inventories, which include heating oil and diesel, fell by 200,000 barrels.

Light, sweet crude for June delivery fell 88 cents to 63.52 a barrel on the New York Mercantile Exchange, following a 1.31- dollar-drop Tuesday. Brent crude for June fell 76 cents to 66.24 dollars a barrel on the ICE Futures exchange in London.

Source: Xinhua


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