Oil and Gas News - Oil, Gas Prices Off on Report Prediction - News Channel 7

NEW YORK (AP) — Oil and gas futures prices retreated Tuesday on expectations that a government inventory report on Wednesday will again show that crude and gasoline stocks rose last week. Those refinery problems have been widely cited by analysts as the reason for record gas prices, and high oil and gasoline futures prices. Some analysts think gas prices are likely to stop falling and may even rise again in coming weeks if gasoline inventories don’t rise. Analysts also predict that crude oil inventories rose by 1 million barrels last week, and that distillate stocks, which include heating oil and diesel fuel, rose by 200,000 barrels. read more

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