April 20 (Bloomberg) -- Crude oil rose from a three-week low on speculation a report tomorrow will show U.S. stockpiles declined for a second week and as rising equity prices buoyed investor sentiment.
Oil inventories in the U.S., the world’s largest energy user, probably fell 600,000 barrels last week, a Bloomberg News survey showed. The May oil contract, which expires today, slumped as low as $80.53 a barrel yesterday after the Securities and Exchange Commission sued Goldman Sachs Group Inc. , causing investors to move away from risky assets such as commodities.
Full Story: Oil Climbs From Three-Week Low on Supply Forecast, Equity Rally - Bloomberg
Oil inventories in the U.S., the world’s largest energy user, probably fell 600,000 barrels last week, a Bloomberg News survey showed. The May oil contract, which expires today, slumped as low as $80.53 a barrel yesterday after the Securities and Exchange Commission sued Goldman Sachs Group Inc. , causing investors to move away from risky assets such as commodities.
Oil Tanks India manufacturing facility.
Crude oil for May delivery rose 80 cents, or 1 percent, to $82.25 a barrel on the New York Mercantile Exchange at 8:34 a.m. in Sydney. It dropped 2.2 percent to $81.45 yesterday, its lowest settlement since March 26, before rallying in electronic trading after U.S. stocks reversed losses as Citigroup Inc. beat profit estimates and Bloomberg reported the SEC was divided in its move to sue Goldman Sachs.India auto diesel tanks manufacturer
Full Story: Oil Climbs From Three-Week Low on Supply Forecast, Equity Rally - Bloomberg
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