NEW YORK (AP) -- Oil prices are rising after the government said U.S. crude supplies fell far more than expected last week. The Energy Information Administration said Monday that U.S. crude stocks fell by 6.3 million barrels for the week ending Sept. 12, much bigger than the 3.7 million barrel drop expected by analysts surveyed by energy research firm Platts expected.
The decrease was due to a shutdown of virtually all U.S. Gulf Coast oil production ahead of the passage of Hurricanes Gustav and Ike. Light, sweet crude for October delivery was up $2.20 to $93.35 a barrel on the New York Mercantile Exchange. However, because the decrease in production was due to weather factors, crude's recent price decline is likely to resume in the near future. http://biz.yahoo.com/ap/080917/oil_prices.html?.v=13 Credit is a system whereby a person who can't pay gets another person who can't pay to guarantee that he can pay. - Charles Dickens --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
