Thursday, April 05, 2007

Oil prices rise as US motor fuel reserves plummet

Now how in hell could this happen? There's an oil man in the WH. Oh yeah, the oil man is Bush. Stupid question.
World oil prices rose on Thursday after a massive plunge in US motor fuel reserves, but gains were capped after Iran freed 15 seized British military personnel.


The US Department of Energy had revealed Wednesday that US gasoline reserves plummeted by five million barrels last week -- far more than market expectations for a drop of just 300,000 barrels.

As an aside. You all have probably seen an oil drum. Now imagine five million of those suckers in one week. And that's on top of the several million barrels we bought. Boggles the mind.

(read more)

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