Are you sure?

Crude prices decline on higher stockpile expectation

Crude prices fell about 2% yesterday on expectations of rising supplies.

Light, sweet crude for June delivery was down $1.31 at $64.40 a barrel on the New York Mercantile Exchange. London Brent crude fell 65 cents to $67.00 a barrel. Gasoline for June delivery fell 1.47 cents to $2.2447 a gallon on the New York Mercantile Exchange. The Energy Department is due to report on oil and gasoline inventories on Wednesday while investors expect a rise on crude stockpiles. Last week's Energy Department report showed an unexpected drop in US gasoline stockpiles and refinery use. The market appeared unaffected by the unrest in Nigeria Tuesday as six foreign oil workers were kidnapped and a Nigerian sailor was killed in the country. (english.people.com.cn)