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Crude prices continue gains as U.S. gasoline demand increase

Oil&Gas Materials 17 June 2010 02:30
Crude prices rose again on Wednesday as U.S. gasoline demand went higher last week, Xinhua reported.
Crude prices continue gains as U.S. gasoline demand increase

Crude prices rose again on Wednesday as U.S. gasoline demand went higher last week, Xinhua reported.
   The U.S. Energy Department's Energy Information Administration said Wednesday that crude supplies increased by 1.7 million barrels last week. Analysts had expected a decline of 1.75 million barrels.
   Gasoline supplies fell 636,000 barrels to 218.3 million last week while gasoline demand rose 1.6 percent to 9.34 million barrels a day.
   Refineries operating rates were down 1.2 percent from the prior week, reaching a level of 87.9 percent.
   The Federal Reserve said Wednesday that industrial production, which includes output at the nation's factories, mines and utilities, rose 1.2 percent in May.
   Benchmark crude for July delivery rose 73 cents to settle at 77. 67 U.S. dollars a barrel on the New York Mercantile Exchange.
   In London, Brent crude rose 1.04 dollars to settle at 78.14 dollars a barrel on the ICE futures exchange.

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