Tuesday 29 September 2015

Oil rallies on gasoline jump, worries over decline in drilling

Oil prices rallied on Monday, with U.S crude up as much as 3 percent, amid a jump in gasoline prices and on concerns that U.S. oil output may slow as drilling steadily declines.

Gasoline futures on the New York Mercantile Exchange surged more than 3 percent after a fire was reported Saturday at a unit of Husky Energy’s 155,000 barrel-per-day refinery in Lima, Ohio.

Read more @ Businessday Online

No comments:

Post a Comment