OiL STOCKS: Crude Climbed on Supply Worries

Crude oil prices rose on Tuesday, after refinery problems in the United States rekindled supply worries during the summer driving season.

US crude oil futures rose 24 cents to US$72.30 per barrel by 16:30 GMT, ending a slide of more than US$6/b. London Brent rose 63 cents to US$71.80/b.

Shutdowns at oil refineries in the United States have kept supplies tight since spring, contributing to a record run in gasoline pump prices earlier this year to well-over US$3 per gallon.

Oil prices fell below US$72/b earlier on Tuesday, extending a plunge of almost 5 percent the previous session. Oil prices are roughly 8 percent below the record US$78.77/b reached last Wednesday.
Via: NefteGaz