In an exaggerated response to Monday's fall, oil prices have moved up today, but with light volume and no real drivers, the market is expected to readjust during the day. Light, sweet crude for April delivery rose to US$56.94 a barrel in midmorning Asian electronic trading on the New York Mercantile Exchange. The April contract, which expires Tuesday, fell 52 cents on Monday amid expectations of rising crude stocks.
An increase in gasoline demand in the approaching U.S. summer driving season has also helped push prices up. U.S. refineries are expected to boost their crude oil runs by 1.5 million bpd to 16.1 million bpd by June to meet summer driving demand
20-Mar-07 
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