Oil Trades Near Nine-Month High on Concern U.S. Fuel Stocks Are Inadequate

(Bloomberg) -- Crude oil was little changed in New
York after rising to a nine-month high on concern gasoline
supplies are inadequate to meet peak summer demand.

Oil rose to the highest since September on July 15 after
Valero Energy Corp. shut a unit at its Corpus Christi,
Texas, refinery, paring gasoline production for the peak-demand
driving season. U.S. refineries reduced operating rates the past
three weeks, an Energy Department report on June 13 showed.


Read more at Bloomberg Energy News