U.S. gasoline stocks declined by 3.4 million barrels to 210.5 million barrels in the week ended March 16, according to the U.S. Energy Information Administration's weekly report. The drop was larger than the 1.6 million barrel drop forecast by analysts surveyed by Dow Jones Newswires.
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Oil Prices Above $60 On Stockpiles Drop
Oil prices climbed above $60 a barrel in Asian trading Thursday after the U.S. government report
Oil prices climbed above $60 a barrel in Asian trading Thursday after a greater-than-expected drop in gasoline stockpiles.
Light, sweet crude for May delivery rose 43 cents to $60.04 a barrel in electronic trading on the New York Mercantile Exchange midday in Singapore.
U.S. gasoline stocks declined by 3.4 million barrels to 210.5 million barrels in the week ended March 16, according to the U.S. Energy Information Administration's weekly report. The drop was larger than the 1.6 million barrel drop forecast by analysts surveyed by Dow Jones Newswires.
U.S. gasoline stocks declined by 3.4 million barrels to 210.5 million barrels in the week ended March 16, according to the U.S. Energy Information Administration's weekly report. The drop was larger than the 1.6 million barrel drop forecast by analysts surveyed by Dow Jones Newswires.
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