Another increase in oil prices 27/03/2008 - 08:12:18
EIA data released yesterday showed stock build in crude unchanged on the week.
The numbers prompted a third consecutive daily rise in crude prices with WTI trading at $105.90 and Brent crude at $104.40.
The data also painted a picture of falling gasoline stocks with refining activity at its lowest level since October 2005.
Overnight crude has advanced further with attention switching to supply disruptions due to strikes in French ports and a Gabonese plant together with renewed military operations in Basra, Iraq threatening the fledgling oil production in the Southern region of the country.
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