US oil shortage

  1. 2,063 Posts.
    Any ideas on where this is going?

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    5:47PM API posts 14 mln barrel drop in U.S. crude supplies by Myra P. Saefong
    November crude futures rose as much as 22 cents in after-hours trading Tuesday to a high at $31.05 a barrel after the American Petroleum Institute said crude supplies as of the week ended Sept. 27 dropped 13.9 million barrels. Analysts expected a drop of as much as 10 million barrels following a storm disruption to output in the Gulf of Mexico last week. The API also said gasoline supplies rose by 485,000 barrels and distillate inventories fell by 213,000 barrels in the latest week.




 
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