HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Oil Prices Fall As Suppli...

Wed Aug 29, 2012, 01:16 PM

Oil Prices Fall As Supplies Up, Isaac Heads Inland [View all]

1 hour ago Associated Press

The price of oil is dropping after U.S. crude oil supplies rose last week for the first time in a month.

Offshore oil facilities appeared to have incurred little impact from Hurricane Isaac as it swept through the Gulf of Mexico into Louisiana. That also depressed oil prices.

Benchmark oil fell $1.12 to $95.21 Wednesday in New York. Brent crude dropped 40 cents to $112.18 per barrel.

The government says crude inventories increased 3.8 million barrels to 364.5 million barrels last week. Analysts surveyed by Platts predicted supplies would drop by 2 million barrels.



0 replies, 432 views

Reply to this thread

Back to top Alert abuse