Saturday, January 5, 2008

Oil Futures Drop

There has been a drop in crude inventory that has pulled the prices down below $100. That was a record high per barrel, but one day later the crude inventories fell by 4 million barrels last week, much more than the 1.7 million barrel decline that analysts had expected. On the other hand, inventories of distillates, which include heating oil and diesel fuel, rose by 600,000 barrels. And supplies of gasoline rose by 1.9 million barrels, more than the 1.3 million barrel increase expected. So maybe we will see a drop in gas prices again I saw $2.999 at the pump last night, the highest it has been in awhile.

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