Oil prices fluctuate on mixed picture of supplies

[KarenCaren]

NEW YORK (AP) — Oil prices are fluctuating as traders react uncertainly to mixed data in a government report on fuel and oil inventories.

The Energy Department says the nation's crude oil stockpiles fell less than the expected amount last week. But gasoline supplies fell 1.2 million barrels; analysts had expected a 1 million barrel increase.

Light, sweet crude for July delivery jumped more than a dollar immediately after the Energy Department issued its report, before retreating. In morning trading on the New York Mercantile Exchange, crude was trading down 15 cents at $133.86 a barrel, but alternating frequently between gains and losses.

Source: ap.google.com

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[jdgomez]

this is one of the reasons why people are converting to hybrids nowadays.But frankly, the fuel issue is a serious problem. I seriously hope things will get better in the future coz its hard to drive with the prices going all the way up.