Related News
Oil hits US$65 on inventory decline
Source: Xinhua |
May 29, 2009, Friday
|
Online Edition
Online Edition
OIL prices hit US$65 yesterday after the US government reported a sharp decline in crude inventories.
Light, sweet crude for July delivery rose US$1.63, or 2.6 percent, to settle at US$65.08 a barrel on the New York Mercantile Exchange, the highest settlement since early November.
According to the US Energy Department's Energy Information Administration (EIA), crude oil stockpiles declined 5.41 million barrels to 363.1 million for the week ended May 22, while gasoline inventories dropped 537,000 barrels to 203.4 million, the lowest since the week ended Dec. 5.
Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) decided yesterday to maintain their production quotas, betting a strengthening economy and signs of rising demand would support prices.
In London, Brent crude rose US$1.89, or 3.02 percent, to settle at US$64.39 a barrel on the ICE Futures Exchange.
Light, sweet crude for July delivery rose US$1.63, or 2.6 percent, to settle at US$65.08 a barrel on the New York Mercantile Exchange, the highest settlement since early November.
According to the US Energy Department's Energy Information Administration (EIA), crude oil stockpiles declined 5.41 million barrels to 363.1 million for the week ended May 22, while gasoline inventories dropped 537,000 barrels to 203.4 million, the lowest since the week ended Dec. 5.
Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) decided yesterday to maintain their production quotas, betting a strengthening economy and signs of rising demand would support prices.
In London, Brent crude rose US$1.89, or 3.02 percent, to settle at US$64.39 a barrel on the ICE Futures Exchange.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
