Posted On: 12/20/2012 5:11:24 AM
Post# of 39368
Energy Industry News
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Brent crude fell from the highest close in two weeks amid speculation that U.S. budget negotiations faltered, threatening the economy of the world’s biggest oil user.
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Ethanol’s discount to gasoline futures weakened to the widest level in two months on ample stockpiles of the biofuel.
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Oil rose to a two-month high after the Energy Department said inventories decreased as refineries ramped up operations, boosting demand for crude.
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Diesel fuel gained for a second day on the U.S. Gulf Coast as the area’s distillate inventories dropped the most since April.
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