Reply #5: Gasoline futures rise to highest level in nearly six months

[lovuian]

http://english.pravda.ru/news/world/30-03-2006/78054-gasoline-0

Gasoline futures charged to their highest level in nearly six months on Wednesday after the U.S. government released data showing a large decrease in domestic supplies of unleaded gas.






snip...
Gasoline futures rose 6.97 cents to settle at $1.9542 a gallon (3.8 liters) on the New York Mercantile Exchange, just six cents shy of the Oct. 4 settlement of $2.0157. Back then, the U.S. fuel market was grappling with the loss of significant refining capacity in the aftermath of Hurricane Katrina.

Light sweet crude for May delivery gained 38 cents to close at $66.45 a barrel, the highest close since Feb. 1 and 23 percent above year-ago levels.
snip...

The outlook on Nigerian oil output remained uncertain. Royal Dutch Shell PLC, the largest foreign oil company operating in the country, has shut in nearly half of its Nigerian production and says it won't resume operations until the country is safe enough for its workers.

Iran, the No. 2 oil producer in OPEC, also remains a potential source of concern. It has been referred to the U.N. Security Council over fears it may want to misuse its nuclear program to make weapons, but the council has been at loggerheads over U.S.-led efforts to ratchet up the pressure on Tehran, reports AP.

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A solar eclipse today and feel the gas prices rising up to some ugly levels... not good news for Americans...