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Oil falls after hitting new heigh
 
Oil falls after hitting new heigh
OIL prices fell from a record high on Wednesday after a US government report showed near-record crude shipments lifting stockpile levels in the worlds largest energy consumer. US light sweet crude tor September delivery fell 44 cents to $61.5 after hitting a record $62.5 earlier in the day. London Brent crude was down 38 cents at $60.2 after peaking at $61.3 a barrel. The surprise increase came as imports soared to their third-highest on record, near 11m barrels per day, countering higher demand from refineries and slow shipments from Mexico after recent storms.
Posted On : 8/23/2005 10:37:09 AM

 
 
 
Oil falls after hitting new heigh