The Department of Energy reported Wednesday that U.S. crude oil inventories decreased by 900,000 barrels last week to 345.7 million barrels. After U.S. government data showed a drop in crude inventories and increase in refinery utilization last week, oil prices rose marginally on Wednesday. Light, sweet crude for July delivery rose to US$69.14 a barrel in electronic trading on the New York Mercantile Exchange in New York. In London, July contracts for Brent crude rose to US$66.98 per barrel on the ICE Futures exchange.
As per the report, refinery inputs and gasoline production increased slightly. Total gasoline inventories increased by 2.8 million barrel to 213.1 million barrels, higher than the average expected build of 700,000 barrels
15-Jun-06 
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