Contact Us

Oil Prices Rise On Big Drop In U.S. Supplies

Mark Wilson/Getty Images

An unexpectedly large drop in U.S. crude oil inventories is driving up the price of oil.

Benchmark oil gained 33 cents to $93.75 per barrel Wednesday in New York. Brent crude increased 97 cents to $115 per barrel in London.

The Energy Department says crude inventories fell 3.7 million barrels to 366.2 million barrels for the week ending Aug. 10. Analysts surveyed by Platts had predicted a decline of 1.5 million barrels.

Oil also is benefiting from an improvement in U.S. factory production in July. That could indicate stronger demand for oil and other energy products.

At the pump, the national average for gas is up less than a penny to $3.709 per gallon. That’s about 31 cents more than a month ago.

More News from K2 Radio

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://k2radio.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on K2 Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on K2 Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!