Oil Edges Up Over $72 a Barrel
Oil rose to more than $72 a barrel early Tuesday, up slightly from the previous two trading days, in advance of a government inventory report due out this week, Bloomberg reported.
Crude futures were trading at $72.80 in early New York Mercantile Exchange trading, up from the $71.89 closing price on Monday.
Oil closed Friday at $71.19, the lowest closing price since mid-December, Bloomberg reported.
The Department of Energy’s price surveys on diesel and gasoline pump prices — usually released on Mondays — will not be released Tuesday because the U.S. government remains closed in the Washington, D.C., area due to the Mid-Atlantic weekend blizzard.
DOE’s weekly inventory survey, which usually comes out on Wednesday, may also be delayed this week. Transport Topics Online will report the prices and inventory information as soon as available.
