Oil hovers near 7-week low - May. 8, 2007
LONDON (Reuters) -- Oil prices hovered near a seven-week low above $61 Tuesday, as investors looked at crude stockpiles to see whether they could meet upcoming demand.
Despite unseasonally low gasoline stocks in top consumer the United States ahead of peak summer demand, investors have begun focusing on rising crude stockpiles and the promise of increased refinery motor fuel output.
U.S. crude was up three cents at $61.50, having hit its lowest since March 22 in the previous session. (CNNMoney.com)
No comments:
Post a Comment