Oil Rises a Second Day in New York on Forecast U.S. Supply Drop

Business Week reported that crude oil surged for a second day on forecast that stockpiles dropped in the U.S.

The market news is quoted as saying:

The Energy Department may say crude inventories dropped to 350.1 million barrels last week, according to the median of 10 analyst estimates in a Bloomberg News survey. Gasoline supplies probably fell 500,000 barrels to 208.3 million, the survey shows. The industry-funded American Petroleum Institute will release its own data today.

Click here to access the entire news