International Edition


April 28, 2017

Breaking News, World News and Taiwan News.
About Us
Contact Us

Increase in refined fuels keeps the price of crude oil below US$103

The price of crude oil stayed flat Wednesday as falling stockpiles of crude were offset by rising supplies of refined fuels.

Benchmark U.S. oil for July fell 2 cents to close at US$102.64 a barrel in New York Mercantile Exchange. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 42 cents to close at US$108.40 a barrel in London.

The Energy Department reported Wednesday that U.S. crude supplies fell by 3.4 million barrels last week as refiners increased activity and imports fell. Analysts had expected a decline of 2 million barrels, according to Platts, the energy information division of McGraw Hill.

Lower-than-expected crude supplies would normally push prices higher, but supplies of refined fuels — especially diesel — rose, and overall demand appeared weak. That pushed down prices for fuels — and crude, on expectations that refiners would not need to increase crude purchases in future weeks to make more fuel.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 1.4 cents to close at US$2.935 a gallon.

— Natural gas rose 1.1 cents to close at US$4.64 per 1,000 cubic feet.

— Heating oil fell 1.8 cents to close at US$2.848 a gallon.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive our promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search