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Home >> Business
UPDATED: 16:02, June 16, 2007
Oil futures prices rise
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Crude oil futures rose on Friday amid concern over gasoline supply.

Light, sweet crude for July delivery gained 35 cents to 68.00 dollars a barrel on the New York Mercantile Exchange.

Brent crude for August delivery rose 51 cents to settle with 71. 47 dollars a barrel on the ICE Futures exchange in London.

The U.S. Energy Department reported on Wednesday that its gasoline stockpiles were unchanged last week. Analysts had earlier expected gasoline to rise by 2 million barrels.

Gasoline supplies are closely watched as the summer driving peak is around the corner. Even though gasoline prices may be higher this summer, U.S. motor fuel demand will remain strong, the Energy Department predicted.

Source: Xinhua


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