Oil Advances 90 Cents

Business Week reported that oil advanced 90 cents after the Energy Department reported that supplies dropped more than expected.

As quoted in the market news:

Oil for September delivery rose 90 cents to $94.33 a barrel on the New York Mercantile Exchange, the highest settlement since May 14. Prices have rallied 11 percent in the second quarter.

Click here to read the full Business Week report.