Action in Iraq sends crude prices upward
Inventories of distillate fuel, a category that includes heating oil and diesel, slipped by 1.8 million barrels last week, the first drop since May, Wednesday’s EIA report showed. Consumption increased 5.2 percent to 4.03 million barrels in the seven days ended Aug. 1, the most since May.
Gasoline futures for September delivery rose 3.26 cents, or 1.2 percent, to settle at $2.7723 a gallon on the Nymex. The fuel closed at $2.7155 Aug. 5, the lowest settlement since February.
Pump prices slipped 0.8 cent to $3.475 a gallon nationwide Wednesday, the lowest since March 5, according to AAA, the largest U.S. motoring group. In Houston Thursday, the average was $3.337 a gallon, down from $3.344 Wednesday.
Ultra low sulfur diesel for September delivery advanced 1.96 cents, or 0.7 percent, to s
Aug 08, 2014