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To: jim_p who wrote (71994)8/30/2000 5:25:52 AM
From: jim_p  Respond to of 95453
 
U.S. Increase Fails to Dampen Oil Price

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REUTERS INDEX | INTERNATIONAL | BUSINESS | TECHNOLOGY
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Filed at 4:11 a.m. ET

By Reuters
SINGAPORE (Reuters) - Oil edged higher in Asia on Wednesday with reports of a hefty increase in U.S. crude stocks failing to allay fears of heating oil shortages this winter in the West.

Benchmark New York Mercantile Exchange (NYMEX) October light crudes futures reversed a 13-cent loss in New York on Tuesday to last trade 11 cents higher at $32.85 a barrel by 3:45 a.m. EDT, among some of the highest prices in a decade.

nytimes.com