Replies to post #109 on Business Models and Architecture

[Trops]

Oil Jumps on Surprise Supply Drop
By JOHN WILEN,AP
Posted: 2008-03-05 10:41:56
NEW YORK (AP) - Oil prices are surging after the govp in crude oil stockpiles.

Most analysts had expected oil supplies to rise.

Light, sweet crude for April delivery is up $2.90 a barrel at $102.42 on the New York Mercantile Exchange.

The Energy Department says crude oil supplies fell by 3.1 million barrels last week. That compares with analysts' forecasts of a 2.3 million barrel increase.

Before the Energy Department issued its report, oil prices were already up about $2 on OPEC's decision to hold production steady. Many investors had hoped the oil cartel would raise output to bring prices down.


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